Crowd Connected, a Surrey Research Park, UK-based developer of location intelligence software, held the first close of a new round of financing, taking the company to over US $1m in funds raised to date.
The round was provided by UK-based angel investors, including the majority of the company’s original shareholders.
The company will use the funds to further enhance its product functionality across multiple market segments and invest in sales and marketing, including building out the team.
Led by James Cobb, Founder and CEO, Crowd Connected has developed a proprietary location intelligence platform that harvests, stores and analyzes aggregated location data using signals from mobile phones, wearable devices or other connected hardware. Its core IP works indoors or outdoors, underground, in harsh environments and can be applied to multiple sectors.
The company has already secured licensing agreements for its innovative technology with operators in the global music festival market, including AEG and Live Nation. Its technology has recently delivered audience engagement and customer insight, working with an increasing number of leading brands in the USA and Europe including MillerCoors, American Express and EE, the UK’s leading mobile phone network.
Crowd Connected was also selected earlier this year to pilot its technology on the London Underground, as part of its Internet of Things strategy to tackle congestion on the UK capital’s tube network.