Press Release: UK Startup Locomizer Introduces a Biology-Inspired Smart Geofence
Big brands shared their first results of using this consumer&place profiling technology
United Kingdom, 3 June 2016 —London-based Locomizer has invented a new technology to translate physical behavior into digital insights about target audience affinities, allowing to effectively discover and match consumers with relevant brands. Unlike conventional geofence models, Locomizer does not look at consumers’ current locations in isolation. Instead, the startup looks into historical behavioral patterns, by analyzing billions of geo signals and recognizing consumers’ affinity to certain places and real-life activities. As a result, the company creates consumer footfall heatmaps to show target audiences on a map, and a database of individual geo-behavioral interest profiles. Locomizer’s technology effectively drives marketing ROI by increasing relevancy of brand messaging, successfully predicting consumer interests in retail locations, and intelligently planning and managing events and urban development.
The startup recently received investments from international funds Impulse VC and Phystech Ventures in a seed round of $300K. The follow on investments in the startup may go up to $1.5M by the end of 2016. The raised capital will be primarily used for the international expansion of Locomizer.
Locomizer’s unique technology of audience discovery and segmentation, called Affinity(BI), is based on biological research into cell behavioral models by Dr. Alexei Poliakov, a cofounder of Locomizer.
“Locomizer is a good example of how the real world is being digitized and converted into big data, to create value-added products and services for their customers and end-users. This is just one of a few projects that bring a real ‘tech’ meaning to adtech,” says Impulse VC managing partner Kirill Belov.
Phystech Ventures managing partner Olga Maslikhova adds, “At the moment, Locomizer is focused on winning in adtech space, but the company is not limited to just adtech, as it has all of the capabilities to push its ‘data-as-a-service’ analytics platform across multiple verticals. The technology can be successfully applied in insurance, retail analytics (time-based promotions, competitive analysis, in-store shelf layout and finding suitable locations for new store openings), and e-commerce (powering product recommendation engines). The startup has already gained a foothold in EU, Japan and US markets. We recognize a huge opportunity for Locomizer to enter and be successful in the Southeast Asia markets as well. Phystech Ventures has a strategic presence there and will support Locomizer’s business development.”
Locomizer’s technology to intelligently discover target audiences has already won the acceptance within the advertising world. Clear Channel crowned Posterscope for the best use of data and insight in Bethesda’s Fallout 4 game’s out-of-home campaign, fueled by Locomizer: https://locomizer.com/posterscope-target-media-locomizer-win-clear-channels-outdoor-planning-award/ .
The advertising campaign for Jameson Irish Whisky targeted at new young adult audiences delivered smashing results, exceeding the brand’s expectations: http://www.havasmedia.co.uk/our-work/jameson-irish-whisky/.
Alexei Poliakov, a second co-founder and namesake of Dr. Alexei Poliakov says, “Our technology is a smart geofence. Instead of relying on target customers’ close proximity to key locations, we discover and recommend non-obvious places with high affinity to brands, which has never been more possible than with Locomizer’s insights. Our targeting is not location-based, but better – it’s based on where you’ve been in the past. There is an important difference here; while we recognize the significance of location as an indicator of your interests, once we have a good understanding of your profile, relevant offers can be sent to you, regardless of your current location.”
Locomizer continues to improve the functionality of its Affinity(BI) technology by designing new patent applications and adding filtering, matching, and predictive algorithms. The aim is to enrich the generated profiles with more granular information, allowing segmentation across multiple customer attributes in a campaign planning and real-time mode.
The company does not collect consumer data directly, but relies on their data partners to establish trust relationships with customers, gaining permission to share their non-personally identifiable data. Locomizer’s Affinity(BI) has a natural fit with adtech and out-of-home advertising solutions, but its application can be easily expanded to other verticals to better understand consumer behavior for marketing purposes.
About Impulse VC
Impulse VC is a venture investment vehicle, with the focus on technological Internet companies. Our infrastructure includes an investment fund, accelerator and business incubator, all designed to support and raise strong technological teams.
About Phystech Ventures
Phystech Ventures is an early stage venture capital firm focused on investing in high-tech companies in IoT, connected platforms, cybersecurity, efficient energy use, oil & gas, and new materials across the US, South-East Asia and Central and Eastern Europe.