Portugal-based location analytics company, Movvo, nets €5.5M Series A co-led by Caixa and Sonae IM
Movvo, the monetisation platform built on Movvement Intelligence™, has just raised a Series A investment of € 5.5 Million. This investment round was co-led by Caixa Capital and Sonae IM, with co-investment from existing angel investor Dueto.
Movvo’s ground breaking technology uses multiple sensors to understand, predict, and influence shopper behaviour, with accuracy levels and productised insight surpassing that of all other providers. Movvo’s Movvement Intelligence platform enables new opportunities for businesses to monetise their physical space and provide a true omnichannel experience to their visitors for the first time. Spaces such as shopping malls, city centres and entertainment venues are all taking advantage of this new generation of technology, and Movvo sits at the forefront of an exciting new industry. Movvo was the first location service vendor to be awarded the TRUSTe’s Privacy Seal, certifying all data collected remains anonymous and cannot be compromised.
The company intends to use the funds to extend the capabilities of its SaaS platform through investment in research and development, including broadening platform capabilities with new in-store and in-mall location, predictive, and engagement technologies, as well as accelerating growth in its existing markets: Europe, North America, and Asia.
Movvo’s ambitious global expansion plans are led by Cyrus Gilbert-Rolfe, who was hired in late 2015 as the company’s CEO and brings over 25 years of experience in organisations such as Netscape, Microsoft, Silverstream and EMC. Cyrus will build on that experience and momentum to ensure Movvo is well placed to take advantage of the growing demand for real-time, mobile movement data across a host of industries.
Cyrus Gilbert-Rolfe, Movvo CEO, said “We have an exceptionally talented team in place, and the product is ready. The continuing support from Caixa Capital, Sonae IM, and Dueto is giving us the platform for a careful but rapid global expansion. We now have clients in Australia, China, the US, Panama, and all across Europe. With this Series A now secured, we will continue to grow both the product and the footprint, at pace”.
Stephan Morais, Executive Board Member of Caixa Capital, said “We are excited about Movvo, one of the leading Portuguese startups. We were the first investor to step in after a pre-acceleration program, backing Roberto, Suzy and Diana, the founders, since early 2011. Since then, it was possible to develop and test a technology from scratch, and create an outstanding product. We are confident that this talented team will position Movvo as a dominant game changer in the location analytics space.”
Eduardo Piedade, Executive Board Member of Sonae, said “Our investment in location analytics pioneer Movvo is part of our strategy of building world class tech-based companies. In the last couple of years, we have been contributing with our business expertise and industry networking to develop a killer product and gain important customers at Movvo. We are convinced that the team has all necessary ingredients to take Movvo to the next level and become a leading player in the global arena”.
At Movvo, we’re driving change in the way you view, analyse, engage and monetize your shoppers using Movvement Intelligence. Our shopper behaviour analytics and engagement platform delivers on-demand insight based on our proprietary technology; that captures and interprets the radio frequency footprint of your shoppers. From arrival to departure, the Movvo solution turns data in to rich, actionable intelligence. We’ve made it easy for you to use and act on this insight with a highly-visual & beautifully effective dashboard, shopper engagement tools & the ability to effortlessly integrate your data with your existing business systems.
Caixa Capital – www.caixacapital.pt
Caixa Capital is the Private Equity and Venture Capital fund management company of Portugal´s largest banking group Caixa Geral de Depósitos, present in over 20 countries and with assets above 120 billion Euros. Caixa Capital is a pioneering operator in the Portuguese market, with 500 million Euros under management and a total potential capital of 700 million euros for its managed funds. Caixa Capital invests in growth equity and venture capital opportunities and funds. The Venture Capital team partners with incubators, accelerators and business angels for seed and startup investments and with major international venture funds for opportunities above 1 million Euros. The team aims to support global expansion of Portugal related teams and companies and has dedicated team members to ICT, digital, health tech, engineering and cleantech investments.
Sonae IM – www.sonaeim.com
Sonae IM is Sonae’s corporate venturing unit, focused on investing in tech-based companies in the telecommunications and retail sectors. With a flexible investment style and approach, Sonae IM aims to support growth stage companies, typically series-A and above. It is currently present in 13 countries, employing over 1,000 collaborators, with a portfolio that includes WeDo, Saphety, Bizdirect, S21SEC, Bright Pixel (a Company Builder Studio) and Movvo.
Source: Caixa Capital Press Release