Global location tech company GroundTruth (formerly xAd has seen a 35% QoQ revenue growth as major brands like L’Occitane and Timberland put more budget towards location-based marketing.
Following their acquisition of WeatherBug, GroundTruth have won 35 new Consumer Packaged Goods (CPG) since the start of this year.
As global interest continues to develop and in the wake of its Q4 acquisition of WeatherBug, which just rolled out internationally following its latest iOS release, GroundTruth’s corporate growth has exceeded expectations.
Global demand for location data and technology rises
With nearly 3 out of 4 consumers completing an action after receiving a message near a physical location, major brands are adjusting their corporate budgets toward location-based marketing. BIA/Kelsey forecasts that location will account for 45% of mobile ad revenue by 2021 – translating to a $32.4 billion market.
Furthermore, businesses are gravitating toward solution providers with the deepest and most accurate data sets, like GroundTruth, that sees more people (700 million monthly users) at more places (100 million places of interest) throughout a given month.
“On the heels of GroundTruth’s recent repositioning, our focus is clearer than ever. We’ve stayed true to our origins as a business rooted in accurate location behavioral data which allows our clients and partners the ability to build off something real,” said Serge Matta, President, GroundTruth. “Location data is still evolving as a technology and strategy, but its applications are limitless and already proven to be a powerful means to grow a business and connect with the right people at the right time.”