Along with this investment, Autotech Ventures' MD Alexei Andreev has come on board as Bluedot's board of directors, and a partner at Mighty Capital, Jennifer Azapian, has joined Bluedot as a board observer.
The current funding round was participated by the existing investor's Australia-based public transport firm, Transurban, along with the new investors such as the US-based venture capital firm, Forefront Ventures, Australia-based angel investor, IAG Firemark Ventures, and the US-based venture capital firm, Mighty Capital. The latest raised funds have brought the total funding of the startup to $21.9 million.
In addition, the startup has also announced that it has launched a predictive time-based arrival technology named Tempo that allows marquee customer brands such as KFC, McDonald's, Dunkin' Donuts, Transurban, On The Run, and several others use to receive the real-time alerts to know whenever a consumer is approaching the store.
The latest product launch came after the record-breaking growth of the startup with a spike in customer growth of more than 2,471% increase in monthly unique users in the past 1 year and an average of more than 121 million high fidelity, and first-party location events every month.
With the new product, Tempo, various businesses will be readily available at the very moment a customer enters a store, and arrives at a drive-thru window or drives up to a curbside pickup spot. The startup claims that Tempo is an advanced alternative of radius-based geo-fencing. Tempo will take into account traffic patterns, travel time, topography, and real-life behaviors, like how much time it will take to get into a vehicle. Tempo offers mobile-based data that quickly transform businesses, moving more efficient operations in the COVID-19 crises.
On this occasion, Autotech Ventures' MD Alexei Andreev said that software could allow businesses to reduce contact vitally. Moving forward, they have experienced the market favoring contactless services, and Bluedot is dedicated to meeting this demand. The startup differentiated offering, focusing on scalability and customer experience- key factors for the future success of any business, especially the time when all are rethinking the mobility and brand interactions.
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