$27m Investment for Location Intelligence Firm Cuebiq

Off-line location intelligence specialist Cuebiq has secured $27m in Series B financing. In addition to product development and expansion of global operations, the funds will drive forward its existing privacy initiatives and help it create an open data marketplace based on blockchain technology.

The round was co-led by Goldman Sachs Principal Strategic Investments (PSI), Nasdaq Ventures, DRW Venture Capital, Tribeca Venture Partners and existing investors Tribeca Angels and TLcom Capital. With the investment, Tribeca co-founder and Managing Partner Brian Hirsch will join Cuebiq's Board, as will Marco DeMeireles, Head of Private Investments at Balyasny Asset Management.

Cuebiq says it has grown revenue by more than 200 percent in the last year, and its customer base by 140%, with more than 1,300 companies and brands now using its services.

Cuebiq's platform analyzes anonymous location patterns to give businesses actionable insights and understand off-line consumer journeys - features include off-line location analytics, real-time campaign optimization and footfall attribution, as well as geo-behavioral audiences for cross-platform ad targeting. The firm is headquartered in New York with offices in San Francisco, Chicago, Italy, and China.

Gary Offner, Head of Nasdaq Ventures comments: 'We were attracted to Cuebiq due to its unique position as an independent and media-agnostic provider of location intelligence which is gleaned from aggregated and anonymized data. Complementing our investment, we will explore opportunities to leverage Cuebiq's intelligence for our clients, as well as potentially applying our blockchain and zero knowledge-proof technologies via our Nasdaq Financial Framework to further drive Cuebiq's data privacy initiative'. Cuebiq CEO Antonio Tomarchio comments: 'Since its inception, Cuebiq has been committed to protecting users' privacy, which has earned the company NAI and TRUSTe certifications. This commitment made the desire to partner with like-minded investors a critical factor'.

Web site: www.cuebiq.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.