Los Angeles, CA-based location data start-up known as dataPlor raises USD 4 million capital investment in a funding round on 29th July, 2020. The participants involved in the round were FF Venture Capital, Quest Venture Partners and Space Capital.
The company intends to fuel its expansion in Latin America (Argentina, Chile, Colombia, Peru and Brazil) in the year 2020, hire more employees and upgrade the technology.
This was the fourth funding round where the company participated. The third one happened exactly one year ago (July, 2019). So far the company has raised USD 6.8 million.
CEO and founder of dataPlor, Geoffrey Michener commented that, “This was incredibly important before COVID-19, but now in a COVID world it is absolutely critical to any organization to know what is going on in the small business ecosystem because they drive the economies of most Latin American countries.”
About the company
The start-up is a provider of business location data in emerging countries. First launched in Mexico, dataPlor gathers, verifies, and then provides data from small companies to players wanting to do business in the region.
In Mexico, the company built a database with more than 1.5 million data points on brick-and-mortar businesses that are collected via the ground field team and diversified sources, verified by humans, and continually updated with artificial intelligence and machine learning technologies.
What problem does dataPlor solve?
According to the dataPlor, 75 per cent of Small and Medium Enterprises in Latin America have no online presence and 50 per cent of the businesses which have online presence have either incorrect or outdated data. DataPlor solves these problems of SMEs and aims to be a leading business location data provider.
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