Australian-born independent software vendor (ISV) and location services technology provider Bluedot Innovation is set to ramp up its footprint locally and in the United States after securing US$5.5 million in a Series A funding round.
Melbourne-headquartered toll road manager and development giant Transurban led the funding round with US$4 million investment. The latest capital injection brings Bluedot's total funding to date to around US$13 million.
Other investors include Mercury Payments founder, Jeff Katz and founding CFO of PayPal, David Jacques.
As the company prepares for commercial growth, the latest round of funds will be used for doubling Bluedot’s team in San Franscisco, where it is now headquartered, and Melbourne, as well as to expand its partnerships with Transurban and technology partner Salesforce.
While Bluedot's technology itself has been developed internally, the company has partnered on an integration basis with a host of vendors, including Oracle, IBM and Salesforce.
The company also plans to put its new funds towards research and development (R&D) projects to expand and transform its platform for mobile-based location services internationally.
Bluedot’s proprietary technology enables enterprises to connect with customers through relevant and personalised interactions based on the location and context of the customer. Some of Bluedot’s customers include Salesforce, News Corp and Cox Automotive.
“We’re enabling enterprises to put customer experience at the center of their business, and to seamlessly transition between physical and digital,” Bluedot co-founder, Emil Davityan, said.
In November 2017, Bluedot and Transurban created LinktGO, a mobile tolling app that uses a smartphone’s GPS and other sensors to identify when a driver has entered and exited a toll road.
“Partnering with Bluedot has enabled the delivery of our innovative smartphone app, which is helping our customers easily manage their use of our roads while building in safeguards to promote road safety,” Transurban general manager of customer experience, Chris Jackson, said.
In March last year, Bluedot received a $200,000 slice of the Federal Government’s Entrepreneurs’ Program, for the commercialisation of its Bluedot Point with mobile commerce platforms and marketing clouds.