Geo API provider gets backing from sustainability-focused investment firm ETF Partners
LONDON, May 23, 2019 /PRNewswire/ -- Today iGeolise announce £3.2 million funding from ETF Partners. iGeolise are the creators of the TravelTime platform, an API and business analytics solution that uses travel time data to help users make more informed location-based decisions.
The API helps users answer the question "How far can I travel within X minutes?" by mapping where's reachable in a time limit. It instantly calculates travel times from an origin to thousands of destinations. The API is already used on property websites including Rightmove, Zoopla and Foxtons to help house hunters discover where they can live that's still within a reasonable commute. It's also used by Jobsite and Totaljobs, the world's largest commercial property company CBRE and the NHS. It is live in 35 countries.
The investment will be used by iGeolise to support customers wishing to switch from a straight-line distance-based location searches to a smarter travel time solution. Once added to a website or app it means users could search for hotels and accommodation, bars, restaurants, shops, jobs, properties and more by entering their preferred mode of transport and the maximum time they're willing to travel. It removes the guesswork from distance-based searches, which currently assume the traveller can go in a straight line from A to B.
The company will also use the investment to optimise their public transport travelling sales person routing platform. The tool, which is aimed at organisations that organise employee house calls and out of office appointments, optimises every employee's route. The tool is the first of its kind to route to multiple locations in this way using public transport, and aims to reduce the volume of car trips made.
Charlie Davies, Co-founder of iGeolise, says, "We're committed to building sustainable technology that enables businesses to experience the benefit of switching from routing by car to greener modes of transport. Often public transport is more economical, faster and more efficient for businesses and employees. With ETF's support, iGeolise will accelerate building sustainable technologies to make our cities smarter and to save us all time when travelling."
Robert Genieser of ETF Partners explains, "We are very excited to be backing impact-focussed forward-thinking entrepreneurs, who are changing the way we think about travel, and how we utilise public transport. Life is changing rapidly in our cities, and iGeolise have built a fantastic product that will be part of that."
Creators of the TravelTime platform, an API and analytics tool that lets users search location data using minutes rather than miles. Many businesses use miles radius to power apps or make decisions based on location, but this assumes that people can travel as the crow flies. TravelTime calculates all possible A to B routes around an origin to make a catchment area that is specific for the user's travel preferences. It powers travel time searching on Rightmove, Zoopla, TotalJobs, Jobsite & other web searches. Learn more at https://www.traveltimeplatform.com/ or make your own TravelTime Map at http://app.traveltimeplatform.com
About ETF Partners
ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Our funds come from institutional investors, global corporations and family offices. We create value by investing in technology companies that make a difference. We call it 'sustainability through Innovation'.
For more insight into ETF Partners' view on Sustainability through Innovation, read our investor briefings www.etfpartners.capital.