Uberall Raises $115M & Acquires Momentfeed

The Evolution of Location-Based Services and the Need for Accurate Data

While once considered a burgeoning category for innovative applications following the advent of smartphones, location-based services have become seamlessly integrated into our daily digital interactions. We now routinely depend on location-specific data when utilizing search engines, map applications, weather forecasts, and even when sharing photographs.

Despite this widespread integration, discrepancies persist in the connection between location information and its accuracy. Addressing this challenge, a company focused on improving this link is announcing a significant funding round to facilitate its expansion.

Uberall Secures $115 Million in Funding and Acquires MomentFeed

Uberall, a company specializing in assisting retailers and businesses with brick-and-mortar locations, is announcing $115 million in new funding. This capital will be used to enhance and refine the accuracy of business information across the numerous platforms and services consumers employ for discovery.

In conjunction with this funding, Uberall is also acquiring MomentFeed, a location marketing firm headquartered in Los Angeles. This acquisition is intended to further accelerate the company’s growth trajectory.

Investment Details and Company Valuation

The funding round is spearheaded by Bregal Milestone, a London-based investment firm, with participation from Level Equity, United Internet, and Uberall’s management team. Sources indicate that this funding round values Uberall at approximately $500 million.

The acquisition of MomentFeed is valued between $50 million and $60 million, significantly bolstering the platform’s overall scale.

Expanding Market Reach and Customer Base

The combined entity will manage the online presence for 1.35 million business locations, establishing Uberall as the leading provider in this field. Its clientele includes prominent brands such as BP, KFC, Marks and Spencer, McDonald’s, and Pizza Hut.

Synergies and Technological Enhancements

Florian Hübner, CEO and co-founder of Uberall, highlighted the existing collaboration between the two companies, particularly within the U.S. market. He emphasized that MomentFeed’s specialized technology, specifically its robust sentiment analysis tools, will enrich the broader Uberall platform.

The Importance of Online Presence Management

Managing a company’s online presence extends beyond its website and applications; it encompasses how businesses are represented on local directories like Yelp and TripAdvisor, mapping applications such as Google Maps, social media platforms, and location-based advertising networks.

For businesses with multiple locations, maintaining consistent and accurate information across these diverse touchpoints can be a complex undertaking.

Uberall’s Role as a Centralized Platform

“We act as a facilitator within this extensive ecosystem, enabling brands to effectively leverage the capabilities offered by other technology platforms,” explained Hübner. Tech platforms, in turn, collaborate with companies like Uberall to improve data accuracy and completeness, particularly when direct engagement with businesses proves challenging.

The need for such a service is evident, as inaccurate information – such as incorrect opening hours – can negatively impact the customer experience.

The Challenge of Maintaining Accurate Information

Updating information across potentially hundreds of locations manually is a considerable challenge. “Maintaining 100,000 profiles accurately is exceptionally difficult,” Hübner stated.

Supporting Essential Services

Uberall also provides services for updating information related to vaccine clinics, COVID-19 testing sites, and other essential services, which face similar challenges regarding location, operating hours, and customer feedback.

A Comprehensive Solution for Location Data Management

Uberall’s platform centralizes these endpoints, allowing customers to manage updates that automatically propagate across all platforms, as well as monitor and respond to customer reviews.

Furthermore, the platform identifies and rectifies instances of unofficial or inaccurate business listings, and offers location-based advertising services.

Consolidation and Efficiency in the Location Marketing Landscape

The acquisition reflects a trend towards consolidation within the fragmented location marketing industry, enhancing the efficiency of providing related services.

Industry Perspectives on the Acquisition

“Uberall was our clear preference when considering potential merger partners,” stated MomentFeed CEO Nick Hedges. “This combination strategically benefits our customers, representing leading omnichannel brands, and accelerates our innovation pace in the competitive ‘Near Me’ Marketing space.” Hedges will assume the role of Uberall’s chief strategy officer and EVP for North America following the deal’s completion.

Investor Confidence and Future Growth

Cyrus Shey, managing partner of Bregal Milestone, expressed enthusiasm for the partnership, stating, “Our investment will significantly accelerate Uberall’s ambition to become the leading ‘Near Me’ Customer Experience platform globally. Uberall’s comprehensive solution offers unparalleled integration and functionality, providing customers with a competitive advantage.”