Location-based services may have had their day as a salient category for hot apps or innovative tech leveraging the arrival of smartphones, but that’s mainly because they are now part of the unspoken fabric of how we interact with digital services every day: we rely on location-specific information when we are on search engines, when we are using maps, or weather apps, or taking and posting photos and more. Still, there remain a lot of gaps in how location information links up with accurate information. So today, a company that’s made it its business to address that is announcing some funding as it scales up its service.
Overall, which works with retailers and other brick-and-mortar operators to help them update and provide more accurate information about themselves across the plethora of apps and other services that consumers use to discover them, is announcing $115 million in funding. Alongside that, the Berlin startup is making an acquisition: it’s buying MomentFeed, a location marketing company based out of Los Angeles, CA, to continue scaling its business. The funding is being led by London-based investor Bregal Milestone, with Level Equity, United Internet, and Uberall management also participating. From what we understand from sources, the funding values Uberall at around $500 million, and the deal for MomentFeed was made for between $50 million and $60 million.
The business combination is building way more scale into the platform: Uberall said that together they will manage the online presence for 1.35 million business locations, making the company the biggest in the field, with customers including the gas station operator BP, KFC, clothes, and food chain Marks and Spencer, McDonald’s and Pizza Hut. In an interview, Florian Hübner, the CEO and co-founder of Uberall, noted that the companies have quite a lot of overlap. In fact, before the deal was made, the companies worked together closely in the U.S. market. Still, all the same, MomentFeed has built some specific techniques that will enrich the more comprehensive platform, such as a powerful tool for measuring sentiment analysis.