When I started Factual more than ten years ago, I was on a mission to democratize access to data. At the time, few understood the role that data would play in every company, across every vertical, and we made a bet that businesses would require accessible location data to grow and innovate. As time has passed, it’s become clear that data is a critical component of the strategic decisions companies make each day.
Businesses, brands and the industry at large have recognized the value that data can provide, and have placed their trust in Factual to provide it, which is why I’m excited to announce the addition of $42 million to our funding, bringing our total raised to $104 million. These funds will allow us to enhance our product offerings and grow our business, particularly in the Asia Pacific region, where we’ve hired Chris Pattinson as managing director to lead our new Singapore office.
These funds will further propel the fantastic momentum Factual has built over the past few years. We have 200 incredible employees working across five (now six) offices, and our revenues are growing 50% year over year. Four of the five top technology companies by market cap use Factual location data to build products and support innovative business decisions, and we’ve provided location data in campaigns for more than 6,000 leading brands around the world, including 48 of the top 50 national advertisers per AdAge, powering audience insights, targeting and measurement. It’s an amazing testament to the work our teams do to provide the best data to the world’s biggest companies.
Most importantly, these new funds will enable us to deliver on our mission of providing access to the highest quality location data that powers innovation through real world understanding. We’re operating in a busy technological landscape that’s getting more and more complex by the day. The duopoly of Google and Facebook is strengthening – the amount of data and information the two companies possess is staggering. We’ve seen the first trillion dollar companies emerge. Worlds are colliding as every company, from Disney to Dominos, becomes a data company.
Our investors, and the industry at large, know that data is more important now than ever, that it is a critical component of future innovation, and that the world’s leading companies trust Factual to provide it, which is why they continue to support us. There’s a way to do data right, and we know we’ve found it. I’m confident that Factual data will contribute to the next transformative product or model, and I’m excited to see it emerge.