Local Logic, a leading location intelligence company, has recently announced that it has successfully raised $13 million in a Series B funding round. The funding was led by Esri, a global leader in location intelligence, with participation from BDC Capital, Real Ventures, and other existing investors.
Local Logic specializes in providing data-driven insights and analytics to help businesses make informed decisions about location-based strategies. By analyzing various data points such as transportation, amenities, and demographics, the company offers valuable insights into the characteristics and potential of different locations.
The latest funding round will enable Local Logic to further enhance its technology platform and expand its operations globally. The company plans to invest in research and development to improve its algorithms and data models, ensuring that its clients receive the most accurate and up-to-date information.
One of the key areas of focus for Local Logic is the real estate industry. With its location intelligence solutions, the company helps real estate developers, investors, and agents identify the most promising locations for their projects. By considering factors such as proximity to public transportation, nearby amenities, and local demographics, Local Logic enables its clients to make data-driven decisions that maximize their return on investment.
In addition to real estate, Local Logic’s technology has applications in various other industries. For example, retailers can leverage the company’s insights to identify optimal locations for new stores or evaluate the potential of existing ones. Similarly, urban planners can use Local Logic’s data to understand the needs and preferences of different neighborhoods, enabling them to design more livable and sustainable cities.
The recent funding round is a testament to the growing importance of location intelligence in today’s business landscape. As companies increasingly recognize the value of data-driven decision-making, solutions like Local Logic’s are becoming essential tools for gaining a competitive edge.
Esri’s involvement in the funding round is particularly significant. As a global leader in location intelligence software, Esri brings extensive expertise and resources to Local Logic. The partnership between the two companies is expected to accelerate the development of innovative location-based solutions and drive further growth for Local Logic.
Local Logic’s CEO, Vincent-Charles Hodder, expressed his excitement about the funding round, stating, “This investment will allow us to continue pushing the boundaries of location intelligence and provide our clients with even more valuable insights. We are thrilled to have Esri and our other investors on board as we embark on this next phase of growth.”
With its latest funding secured, Local Logic is well-positioned to expand its reach and solidify its position as a leader in the location intelligence industry. As businesses increasingly rely on data to drive their decision-making processes, the demand for accurate and comprehensive location insights is only expected to grow. Local Logic’s innovative solutions are poised to meet this demand and help businesses thrive in an increasingly competitive market.
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- Source: Plato Data Intelligence.