Bluedot Innovation, an advanced location technology company, has secured US$5. Series A funding of 5 million Transurban, one of the world’s leading urban toll road managers and developers, led the investment of US$4 million.
Bluedot enables companies to connect with their customers through highly relevant and personalized interactions based on the customer’s location and context. By combining best-in-class technology and focusing on the behavior and needs of individual users, Bluedot promotes unprecedented contextual engagement, business intelligence and mobile commerce. The companies using Bluedot technology include Salesforce, News Corp and Cox Automotive.
In addition to Transurban, Bluedot has attracted a number of new and existing investors to participate in the round, including Jeff Katz, formerly Mercury Payments, as well as their long-standing board member, David Jacques, founding CFO of PayPal. To date, Bluedot has raised $13 million in total funding
Prior to this funding round, the company carried out over four years of R&D and designed a product that is twenty-fold more accurate than its competitors, resulting in the release of its patented GeolineTM technology. This latest investment will duplicate Bluedot’s team at its San Francisco and Melbourne corporate headquarters as the driving force for rapid commercial growth, including the acquisition of business customers and the expansion of their strategic partnerships with Transurban and Salesforce.
Bluedot will also continue to invest in cutting-edge R&D projects to expand its platform and transform mobile location services internationally.
“We have and will continue to deliver unprecedented IP and technology that enables businesses to interact with their customers in meaningful and customized ways on a scale,” said Bluedot co-founder Emil Davityan. “Solutions that we can power have not been possible before We enable companies to put customer experience at the center of their business and to make a seamless transition between physical and digital. “That’s right.
In November 2017, Bluedot and Transurban teamed up to create LinktGO, a world-leading mobile tolling app that leverages GPS smartphones and other sensors to identify when the driver entered and left the toll road.
“Bluedot partnership has made it possible to deliver our innovative smartphone app, which helps our customers manage their road use easily while building on road safety safeguards,” said Chris Jackson, Transurban’s Managing Director of Customer Experience. “Our strategic investment in Bluedot ensures that we are well positioned to use location services technology to deliver new products to our customers that make traveling with us a seamless experience. “That’s right.
Bluedot’s proprietary and patented technology enables LinktGO to deliver high-precision locations while safeguarding the use of batteries, privacy and safety of customers’ smartphones.
After building a successful working relationship with Bluedot, Transurban became the leading investor to assist in the expansion of the technology company.
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