Blis, the location-based advertising technology company, has secured US$25 million in series B funding from major new investors. The investment will launch Blis into the US market as well as allowing expansion in existing Hong Kong and Singapore markets and the development of new technologies and products.
The investment will help fund the continued expansion of Blis into new markets, including the US, and the scaling of international sales and marketing activities. It will also be used to enhance the company’s core data engineering capabilities, as well as the development of new product features.
The major new investors are Endeit Capital, Beringea US and Unilever Ventures, alongside additional credit facilities provided by Silicon Valley Bank.
Greg Isbister, founder and CEO of Blis, commented: “We firmly believe that location technology is the future of digital advertising and we’re delighted to have received significant funding to support our expansion. The investment recognises the unique value of location and Blis’ market-leading data platform.”
With US location-targeted mobile ad spend predicted to be worth $11.3 billion in 2016 and growing to $26.7 billion by 2020, the company said its technology is helping media agencies, publishers and brands unlock the power of location.
The company provides location-based technology solutions to global brands, including Airbnb, Ford and Samsung.