CHICAGO – Geofeedia, the pioneer in location-based social media intelligence, today announced the closing of a $3 million series A4 financing. Hyde Park Venture Partners led the financing round with follow-on participation from Tim Kopp, former CMO of ExactTarget; David Gupta, founder and CEO of SDI Enterprises; and Gene Delaney, former president at Motorola. The financing brings the company’s total funding to $6.8 million and will enable Geofeedia to hire key talent, to invest in marketing, and to expand into additional vertical segments.
“We have a huge opportunity to become one of the fastest growing software businesses in the country. We’ve just reached over 10,000 users on our platform and are on pace to quadruple our customer base in 2015,” said Phil Harris, CEO and cofounder of Geofeedia. “This round provides the capital needed to hire the very best talent available so that we can execute on marketing, sales and overall growth as we expand into even more verticals.”
Geofeedia experienced tremendous growth last year with bookings in 2014 expanding to over $3 million, representing an 857% year-over-year increase. Geofeedia recently opened an office in Indianapolis’ iconic Circle Tower building and expects to hire a total of 50 additional team members between the Chicago and Indianapolis offices in 2015.
“We’ve seen more than a thousand B2B SaaS companies and never have we seen a startup hit a vein like Geofeedia. They make product and sales look easy by staying true to a core value proposition – location matters. Marketers and public safety agencies need the location and contextual insight of social media that only Geofeedia can provide,” said Guy Turner, managing director of Hyde Park Venture Partners.
Geofeedia enables organizations to filter and analyze social media content by location in real-time across multiple sources. Users search for a city, address or location name, draw a virtual perimeter around their specific area of interest, and access geo-tagged social media content from within those boundaries in a matter of seconds.
Hundreds of the world’s leading brands and most respected organizations, including Fortune 500 companies like McDonald’s and Dell, leading news outlets like the AP, BBC and CNN, and public safety agencies like the Los Angeles County Sheriff’s Department utilize Geofeedia’s powerful subscription-based patented platform to gain real-time, actionable intelligence through hyper-local social media monitoring.
Geofeedia will be rolling out innovative new features and functionality in the coming months to further penetrate additional markets. The company was one of 100 companies named to the TechPoint Mira Awards honoring “the best tech in Indiana” and was also included in Gartner’s 2014 Cool Vendors report.
Geofeedia is the market leader in location-based social media monitoring, intelligence and analysis for corporate security, public safety, media and marketing teams. Geofeedia’s patented platform enables organizations to filter and analyze public, geo-tagged social media content across multiple sources in any global location to understand, in real-time, what’s happening within the areas most important to them. Geofeedia is headquartered in Chicago and has offices in Indianapolis and Naples, Fla. The company was founded in 2011 by Phil Harris, Mike Mulroy and Scott Mitchell. To learn more about Geofeedia visit http://geofeedia.com.