San Francisco, CA (PRWEB) April 05, 2013
StreetLight Data today announced that it has secured a seven-figure Euro funding in Series A financing. StreetLight is an innovator in next generation geospatial business intelligence for the in-store retail ecosystem. StreetLight repurposes and recombines data from traffic and transportation management systems (such as traffic jam alerts and navigation) to help retailers better understand the context in which their stores operate. This intelligence can lead to improved site selection, as well as other applications.
StreetLight Data’s new round of funding is co-led by Vision Ridge Capital Partners, a Boulder-based venture capital firm, and T-Venture, the venture capital company of Deutsche Telekom. StreetLight is heavily investing in the development of its new product, StreetLight InSight, an analytic platform that stands to benefit greatly from the financial support: "We have recently announced deals with several transportation and traffic data providers, such as AirSage and KSS Fuels, and this financing will allow us to bring on the additional team members to accelerate putting that data to use and integrating it into our platform" said Laura Schewel, co-founder and CEO at StreetLight.
Reuben Munger, managing director for Vision Ridge Partners said, "We're excited about StreetLight's incredible mix of technical, transportation, and data expertise, as well as their dual financial and environmental value proposition. Their business provides both a game-changing analytic product for brick and mortar retail and a powerful source of information to support more transportation-efficient city planning and economic development. We've also been impressed by the strong vote of customer confidence as StreetLight has started marketing its product over the last quarter."
With its portfolio of innovative companies, T-Venture and its strategic venture capital approach ensures that Deutsche Telekom remains at the cutting edge of technology and diverse market access. StreetLight helps to close the gap for business intelligence that exists between traditional commerce and e-commerce, and smartly does so in a way that uses different types of traffic and transportation data that are already available, at a fraction of the cost of current solutions and with better accuracy.
“StreetLight adds to T-Venture’s existing portfolio of companies that support better analytic tools for in-store commerce, such as Medio, NewAer, and LevelUp. StreetLight’s passionate and dedicated team of founders has an unparalleled understanding of consumer behavior and retail ecosystem and the right mix to bring next generation analytics to a complex and changing trillion dollar market," said Thorsten Claus of T-Venture of America.
About StreetLight Data
StreetLight Data, based in San Francisco, CA, is a privately held company founded in 2011. StreetLight Data delivers next-generation geospatial business intelligence to support critical decisions and improve return on investment in marketing, site selection, urban planning, and economic development. To learn more visit http://www.streetlightdata.com
T-Venture Holding GmbH was founded in 1997 as a wholly owned subsidiary of Deutsche Telekom AG. It has since then invested in young companies that demonstrate economic and technological synergies with the Deutsche Telekom business units as well as above-average growth potential. Its head office is in Bonn. It is supported and complemented in its activities by T-Venture of America, Inc. in San Francisco and in Seattle. Investment activities focus on Europe, the United States and Israel.
About Vision Ridge
Vision Ridge Partners, LLC, founded in 2008, is a Boulder, CO-based clean energy oriented investment firm active in renewable energy, green building, future utility business models and advanced transportation. Vision Ridge endeavors to accelerate the execution of a low carbon future.