Locationary Inc., announced this week it has secured $2.5 million from new investors, including the Investment Accelerator Fund (IAF) and Trellis Capital. Existing investors Extreme Venture Partners, Plazacorp Ventures, Angels and Management also participated in the financing. The funds will be used to support the ongoing development and commercial launch of its new local data management system. This new system engages and empowers people around the world to collect, enhance, and distribute local business places data for the benefit of individuals, organizations, and businesses.
“We’re excited to announce that we’ve closed a new investment round that will enable us to hire more engineers, evolve our local data service offerings and to launch our new local data management system for federating local business place information,” reported Locationary Chief Executive and Founder Grant Ritchie. “It’s a great vote of confidence in our new system that dramatically improves the way local business information is managed and distributed.”
Locationary offers a free platform, specialized tools, and access to data updates from a global community, business owners, and other publishers.