Quest Venture Partners made a US$4m follow-on investment in dataPlor, a Brazilian startup crowdsourcing local retail market intelligence, with participation from Space Capital and FF Venture Capital. Quest Venture Partners led an undisclosed seed round in the company in 2019.
(LABS EBANX) The location data startup dataPlor just closed a $4 million investment round from Space Capital, Quest Venture Partners, and FF Venture Capital, to fuel its expansion in Latin America (Brazil, Chile, Peru, Argentina, and Colombia in 2020).
The company is a provider of business location data in emerging countries. First launched in Mexico, dataPlor gathers, verifies, and then provides data from small companies to players wanting to do business in the region.
dataPlor already provides this data to global companies such as UberEats, iFood, and American Express to power their mapping, sales, and marketing efforts.
In Mexico, for instance, the company built a database in with more than 1.5 million data points on brick-and-mortar businesses that are collected via on the ground field team and diversified sources, verified by humans, and continually updated with artificial intelligence and machine learning technologies. Why this matter? According to the startup, 75% of SMEs in Latin America have no online presence, and among businesses that are online, up to 50% of the data is incorrect or outdated.
This fourth-round of seed funding – the third one happened exactly one year ago – will be invested to build out a database product and to invest further in technology, hiring people.
