Tuesday, 24 April 2018 11:49

Bluedot raises US$5.5m in Series A funding


Location service platform provider Bluedot Innovation has secured US$5.5 million in Series A funding, with tollway operator Transurban the major contributor with US$4 million.

Bluedot, which was originally founded in Adelaide, creates software that enables businesses to connect with customers through relevant and personalised interaction.

Last year, it joined with Transurban to create the mobile tolling app LinktGO that uses the GPS on a smartphone plus other sensors to identify when a driver has entered or exited a toll road.

The technology behind LinktGO is claimed to provide accuracy of locations while not consuming too much battery power or compromising privacy or safety on smartphones.

Apart from Transurban, Bluedot has attracted investors including Jeff Katz, formerly of Mercury Payments, as well as their longstanding board member, David Jacques, the founding chief financial officer of PayPal. To date, Bluedot has raised a total of US$13 million.

bluedot founder vertOther businesses that use Bluedot’s technology are Salesforce, News Corporation and Cox Automotive.

Before this funding round, Bluedot carried out four years of R&D and engineered a product that is 20 times as accurate as its competitors, leading to the release of its patented Geoline technology.

The latest investment will be used to double its workforce at its San Francisco and Melbourne corporate headquarters as it gets ready for rapid commercial growth, including acquisition of enterprise customers and expanding its partnerships with Transurban and Salesforce.

The company also plans to invest in cutting edge R&D projects to expand its platform and transform mobile-based location services internationally.

“We have, and will continue to deliver, unprecedented IP and technology that enables enterprises to interact with their customers in meaningful and personalised ways at scale,” said Bluedot’s co-founder, Emil Davityan (above, right).

“The solutions we can power were not possible before. We’re enabling enterprises to put customer experience at the centre of their business, and to seamlessly transition between physical and digital.”

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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