GroundTruth Reports Strong H1 Momentum and 35% QoQ Revenue Growth as Global Demand for Location Data and Technology Rises
NEW YORK – August 17, 2017 – GroundTruth (formerly xAd), the global location technology company that drives results with real data, today announced strong H1 2017 momentum. This includes 35% QoQ revenue growth with positive EBITDA in Q2, 35 new clients in the CPG vertical in H1, and 20% YoY revenue growth in the restaurant vertical. 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.
Helping global brands including Arby’s, L’Occitane, and Timberland realize this market opportunity, GroundTruth is also partnering with a growing network of international companies across retail, restaurant, auto, finance, travel and non-profit industries to incorporate location data into their business development strategies.
“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.”
Additional GroundTruth momentum highlights
Against this growth and following its repositioning announcement in June, GroundTruth continues to invest heavily into advancing its technology and the location category as a whole.
- Technology Firsts and Developments – Since its first-to-market Cost Per Visit model debuted in March, 8 out of 10 brands are embracing the new performance-based model that guarantees in-store visits; brands are also increasingly seeking smarter solutions like Weather Triggering that let marketers adjust strategies and spend based on changing weather to realize greater profit.
- Industry Accolades – GroundTruth was named to the Inc. 5000 for a second time, and earned The Drum Moma Award, Mobile Masterclassing Award and Deutscher Mediapreis Award for its work with AXA with Havas and Mobext, Timberland with Amplifi and Vizeum, and McDonald’s with OMD – further validating the merit of its unique location data and insights offering.
- Strategic Partnerships – Recent collaborations with Snapchat and The Trade Desk among key partnerships helping brands maximize social, mobile, and programmatic marketing strategies with location technology.
- Platform Firsts and Growth – GroundTruth is the first platform to conduct a third party audit to verify its accuracy and scale and validate how it reaches 2 out of 3 people who own a smartphone in the U.S. and of those people, it analyzes over 20 billion physical visits annually, enabling the company to interpret physical location with more than 90% accuracy.¹
GroundTruth also plans to roll out new tools and technologies in H2 with that will give its top 250 brand partners unparalleled insights against their competitors.
To learn more about how location data can help grow your business or to integrate location intelligence into your brand application through GroundTruth’s new Location SDK, contact a representative at https://www.groundtruth.com/contact/#workwithus