Location intelligence platform LifeSight raises pre-Series A funding of $2 M from Provident Capital Partners
Singapore-based LifeSight is reportedly planning to utilise the capital in expanding engineering and data science capabilities at its Bengaluru development center, and to enter new Asian markets over the next two years.
Established in 2017, LifeSight is a SaaS-based location intelligence platform that helps brands, retailers and agencies reach offline consumers effectively, optimise media spend and make better business decisions.
Using machine learning algorithms and proprietary data sets, LifeSight derives insights into consumers’ offline behaviour, and offers two main products for brands, retailers, and agencies – Insights and Attribution.
LifeSight’s location intelligence use cases are aimed at helping marketers such as quantifying impact of digital campaigns on in-store visits, creating geo-behavioural audience segments, and tools to optimise ad spend.
The SaaS-based location intelligence platform raised the $2 million pre-series A funding from Singapore-based Provident Capital Partners, a prominent investor in South-east Asia. Headquartered in Singapore, Provident has investments across various industries, including telecommunications, infrastructure, mining, real estate, plantation and biofuels. It’s businesses are currently mostly concentrated in Indonesia.
LifeSight’s only technical development centre, backed by a 30-member team, is based out of Bengaluru. With new funds in its kitty, LifeSight is looking to expand its engineering, data science, data management and other capabilities in its Bengaluru nerve centre. It will also explore to enter new Asian Markets in the next two years.
In a statement released to the media, LifeSight’s co-founder and chief executive Tobin Thomas said, “We created LifeSight with the core aim of democratising location intelligence with an easy to use SaaS platform. The multiple business deals and current funding round are a strong testimony to the strength of our location intelligence, attribution, and ad spend optimisation capabilities.”
Over the past couple of years, location intelligence platforms have proven to be an indispensable tool across different industry verticals for performance measurements, optimising media spend, and uncovering deep insights into consumer behaviour.
Tobin further adds, “As long-time players of the APAC marketing and advertising industry, my peers and I often deliberated about the disjointed manner in which digital ads were being served, the outdated attribution models, and the missed opportunity for ethical, opt-in location intelligence to guide business decisions in this region. LifeSight has received an incredible welcome into the market. In just three months since commercial roll out, it has inked deals with top media agencies, media owners, and publishers and built a strong presence in Singapore, Malaysia, India, and Indonesia.”
Backed by an overall strength of nearly 40 employees, LifeSight has offices across the globe, including Singapore, Malaysia, India, Australia, and Indonesia.