Today I’m excited to announce that we have raised $35 million in funding for our Series B Round. Institutional and individual investors participating in this round include: Altpoint Ventures, Andreessen Horowitz, Data Collective, Haystack Partners, Heritage Group, Index Ventures, Miramar Ventures, Tamarisk Global, and Upfront Ventures, as well as Saif Mansour, Michael Ovitz, and Tom Unterman.
We plan to use the funds to scale and enhance our core data engineering capabilities, our sales and marketing efforts, and to fuel international expansion. We’ve seen a tremendous amount of success in powering 1000s of customers large and small across large technology platforms such as Apple Maps, Facebook, and Microsoft Bing, key payments leaders across card-issuing bank networks and payment processors, and a strong group of advertising and marketing technology companies that collectively account for over $2 billion in mobile ad spend. Our partners depend on our data to power high quality mobile experiences across all categories including some of the most important ones such as mapping, navigation, local search, social, messaging, and photos. Additionally, the largest advertisers on the planet in categories including auto, CPG, telecom, retail, and financial services use our data to deliver more relevant mobile advertising. We will continue to increase the depth and breadth of our data assets while increasing their utility and accessibility so that existing partners can benefit from better data and new partners can more easily integrate and access our data.
To quote two of our investors:
Factual is a type of information transaction hub that grows strongly but quietly until it has a commanding market position - similar to Google in web & search data, or First Data in payments data. As the world moves increasingly to mobile and IoT-centric models, a vast cloud of devices will need the uniquely enriched, actionable location data that Factual provides.
- Matt Ocko, co-Managing Partner and co-founder of Data Collective
The raise and the caliber of the latest investors is no surprise. Since its emergence, Factual has steadily built itself into the key data player in mobile, powering many of the largest mobile companies in the world. Gil and his team have made good on executing on the original bold vision of building a neutral data company that enables everyone to be successful and doesn’t take sides. Factual is far more than a company; it’s a vision for the way data should work that is coming to fruition.
- Eric Paley, Managing Partner, Founder Collective
When I founded Factual in 2008, the need for a neutral data company whose only business is enabling others to build great products was crystal clear. Since then, the need has only grown as there has been a demonstrated trend among large platforms to limit or shut down 3rd party access to their data in favor of their own products. Access to data is as critical for innovation as access to computing power or talent.
Five years ago, almost to the day, we announced our Series A round. I’m incredibly proud of the progress we’ve made since then and I am looking forward to the next phase of the company. As we forge ahead, we will continue to make data accessible, accelerating innovation and improving our daily lives.
Gil Elbaz, CEO/Founder, Factual
See the full press release here.
See coverage in the Wall Street Journal here.