Asia focused Location Intelligence Platform Lifesight Raises $2 million in Pre-series A Funding
Lifesight, an AI-powered SaaS-based location intelligence platform announced today that it has raised $2 million in pre-series A round led by shareholders of Provident Capital Partners, a prominent investor in South-east Asia.
Headquartered in Singapore, Lifesight enables location intelligence use cases for marketers such as quantifying the impact of digital campaigns on in-store visits, creating geo-behavioural audience segments and tools to optimize ad spend. It uses machine learning algorithms and proprietary data sets to derive rich insights into consumers’ offline behavior that power its SaaS platform.
According to co-founder and chief executive Tobin Thomas, Lifesight has received an incredible welcome into the market. In just three months since the commercial roll-out, it has inked deals with top media agencies, media owners, and publishers and built a strong presence in Singapore, Malaysia, India, and Indonesia. It owes this rapid expansion to a huge untapped demand for location intelligence platforms in the region. Over the past couple of years, location intelligence platforms have proven to be an indispensable tool across different industry verticals for performance measurements, optimizing media spend and uncovering deep insights into consumer behavior.
Tobin adds, “As long-time players of the APAC marketing and advertising industry, my peers and I often deliberated about the disjointed manner in which digital ads were being served, the outdated attribution models, and the missed opportunity for ethical, opt-in location intelligence to guide business decisions in this region. So we created Lifesight with the core aim of democratizing location intelligence with an easy to use SaaS platform. The multiple business deals and current funding round are a strong testimony to the strength of our location intelligence, attribution, and ad spend. optimization capabilities.”
Lifesight will be using this funding to aggressively grow engineering and data science capabilities at its Bangalore development center and to expand into other Asian markets over the next two years.