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Geofeedia Receives $17 Million in Growth Capital Led by Silversmith Capital Partners
Leader in location-based intelligence to accelerate customer acquisition and software platform development; names Silversmith’s Todd MacLean to Board of DirectorsRead More Here
February 3, 2016
CHICAGO -- Geofeedia, a leader in real-time location-based intelligence, received $17 million in funding led by Silversmith Capital Partners’ $15 million investment with participation from existing investors. The capital will help fund further innovation of Geofeedia’s map-based platform that allows organizations to predict, analyze and act on real-time data from social media sources such as Instagram, Twitter, Sina Weibo, Periscope, Vine, YouTube. Todd MacLean, managing partner and co-founder of Silversmith, will join Geofeedia’s Board of Directors.
With a patented suite of data aggregation algorithms, Geofeedia is the leading platform for marketers, journalists, corporate operations teams and the public sector to conduct real-time information discovery at local places on a global basis. The platform has quickly become a standard for news organizations and an essential tool for any journalist seeking to uncover information on breaking news stories at impacted locations globally. For the public sector, Geofeedia provides local, city, state and federal government organizations with crucial information on emerging situations to better aid response efforts, delivering critical situational awareness information that guides first responders. Geofeedia empowers marketers with intelligence to understand what’s happening at places important to them, engage at a local level and customize target audiences to support campaigns. Across the corporate world, Geofeedia provides critical enterprise risk management information and is used by companies such as Dell, CNN, Mall of America, and the NCAA for localized intelligence to guide operational decision making.“
The new capital enables us to meet the tremendous demand for our products, expand into new segments and increase the breadth and quantity of new datasets that our geo-spatial algorithms analyze,” said Phil Harris, CEO and co-founder of Geofeedia. “We are tremendously excited to partner with the Silversmith team to leverage their experience with hyper-growth SaaS-based platforms and we couldn’t be more delighted with the next phase of our development together as we tackle these very large market opportunities together.”
“Geofeedia’s trajectory is remarkable given this market didn’t even exist five years ago. The company’s product sits at the intersection of the three macro waves in technology – cloud, mobile, and social – and provides enormous value to a diverse set of end users,” said MacLean. “We founded Silversmith to partner with entrepreneurs in companies that, like Geofeedia, have been capital efficient in scaling rapidly to a point where they emerge as market leaders. We are thrilled to partner with the Geofeedia team and believe our deep experience in SaaS and specialty data businesses can add fuel to an already impressive fire.
”In 2015 Geofeedia acquired 200 new customers across industries that include major sports leagues, recognized brands and entertainment venues. The company grew from 17 employees to 50 and year-over-year revenue growth was 250 percent.
Founded in 2011, Geofeedia is a leading location-based intelligence platform. Used by more than 500 organization and 10,000 users, Geofeedia’s cloud-based platform enables access to publicly available, user-generated content organized by geographic location in real time. Media organizations, public sector groups, marketing organizations, and corporate risk mitigation teams use the patented SaaS platform to predict, analyze and act on real-time data from social media sources such as Instagram, Twitter, Sina Weibo, Periscope, Vine, YouTube, Picasa and VK. Based in Chicago with offices in Indianapolis and Naples, Fla., Geofeedia is backed by HydePark Venture Partners and Silversmith Capital Partners. For more information, visit http://geofeedia.com or follow the company on Twitter @Geofeedia.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $460 million of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $50 million per company, with the ability to increase the equity commitment in select situations. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedeAnalytics, MedHOK, National Cardiovascular Partners, Net Health, Passport Health, SurveyMonkey, Wrike and Yapstone.
GCA Savvian acted as exclusive financial advisor to Geofeedia for this transaction.