Geofeedia Gets Funds for Location Intelligence Tool

In Chicago, location intelligence specialist Geofeedia has raised $17m in funding, which it will use to further develop its map-based platform, used to predict, analyze and act on real-time data from social media sources.

The tool, which uses a patented suite of data aggregation algorithms, helps clients including media organizations, public sector groups, marketing organizations, and corporate risk mitigation teams to uncover intelligence from specific geographic locations in real-time; and engage and target at a local level.

New funding has been led by Silversmith Capital Partners, with participation from existing investors, and adds to the $3m series A4 financing round raised last year.

CEO and co-founder Phil Harris (pictured) says the funds will enable his firm to 'meet the tremendous demand for our products, expand into new segments and increase the breadth and quantity of new datasets that our geo-spatial algorithms analyze'. He adds: 'We are tremendously excited to partner with the Silversmith team to leverage their experience with hyper-growth SaaS-based platforms and we couldn't be more delighted with the next phase of our development together as we tackle these very large market opportunities together'.

Web site: www.geofeedia.com .