Participated · Series B · Jul 2020

Bluedot builds geofencing and location-data technology used by retailers and restaurants to deliver lane-level accuracy and contactless, location-triggered experiences. The company says its technology is 20 times more accurate than competing solutions, a capability it traces to roots in the toll-road industry. Bluedot recently launched Tempo, a product that incorporates traffic patterns and estimated in/out-of-car times to send real-time arrival alerts. The company emphasizes privacy, saying data is encrypted and anonymized and that it does not collect, track, share or sell personal location data. Bluedot reports unique monthly users increased 2,471% year-over-year and it now powers more than 121 million location events per month. The startup is San Francisco-headquartered and has raised a total of $21.9 million to date. Bluedot Innovation develops technology to pinpoint smartphone users' locations to within a few meters while running in the background, exposing that capability via an API for customers. The company emphasizes R&D to deliver precise, low-power solutions that combine network data and multiple phone sensors to distinguish user behavior in dense urban areas and detect how people are getting around. Its customers use the data to measure whether marketing drives physical visits and to enable mobile toll payments without windshield devices. Bluedot initially focused on toll payments and released the LinktGO app with Transurban in November; it also has a partnership with Salesforce. The startup plans to build out a U.S. office in San Francisco and expand its Melbourne headquarters, and intends to double its current staff of 30 employees. Financially, the company has raised $5.5 million in the current Series A and $13 million in total to date.