US-Based Factual Raises $42 million from Multiple Backers
US-based location data company Factual has reportedly raised funds amounting to $42 million in a fresh funding round. The investors that participated in the round were Upfront Ventures, Felicis Ventures and others. This was a party round, without a lead investor.
The funds so raised by the company are being planned to be used in the growth beyond the United States, particularly in the Asia-Pacific region.
“It was easy, for one thing,” Gil Elbaz, founder and CEO said. “It didn’t take up a lot of time, I didn’t have to go look for a lead, I could focus my efforts on growing the business.”
The company is currently hiring fresh employees in Asia — starting with Chris Pattinson, a former Grapeshot executive who will lead Factual’s Asian headquarters in Singapore.
Founded in 2009 by ...