Crowd Connected Secures Over US$ 1 Million Seed Capital
22 Aug 2016 | Written by Mark Maydon
Crowd Connected secures over US$ 1 million seed capital
Crowd Connected announces today the first close of a new round of financing, taking the company to over US $1 million in funds raised to date
The company will use the latest tranche of funding to further enhance its product functionality across multiple market segments and invest in sales and marketing, including building out the Crowd Connected team.
Headquartered at the Surrey Research Park, widely regarded as the best science park of its kind in the UK, the company has developed ground-breaking location intelligence technology. Crowd Connected’s patent-pending platform intelligently harvests, stores and analyses aggregated location data using signals from mobile phones, wearable devices or other connected hardware.
These highly accurate customer location histories enable the provision of real-time predictive analytics, delivering cutting-edge actionable customer insight and hugely valuable operational benefits. Wherever there’s a crowd – indoors or outside – Crowd Connected’s technology is exceptionally relevant, creating enhanced customer experiences, increased business effectiveness and significant commercial opportunities.
The company has already secured licensing agreements for its innovative technology with leading operators in the global music festival market, including AEG and Live Nation. Crowd Connected’s technology has recently delivered never-seen-before audience engagement and customer insight, working with an increasing number of leading brands in the USA and Europe including MillerCoors, American Express and EE, the UK's leading mobile phone network.
Demonstrating the wide application of its technology, Crowd Connected was also selected earlier this year to pilot its technology on the London Underground, as part of its Internet of Things (‘IoT’) strategy to tackle congestion on the UK capital’s tube network.
Commenting on the latest funding, James Cobb, Founder and CEO of Crowd Connected said:
“Our strategy is to develop the leading proprietary location intelligence platform that addresses business needs across multiple market segments, starting with live events. This latest round of funding enables us to accelerate the roll-out of our technology to deliver genuinely new services to our customers.”
The latest round of financing was provided by UK-based angel investors, including the majority of the company’s original investors.