Unacast secures $18M in a round led by White Star Capital

Finland Norway Sweden Investments 12 February 2018
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Unacast, an Oslo, Norway and New York, USA-based company providing a network of beacon and proximity companies, connecting the physical world to the digital world, announced in a press release securing NOK 140M ($17.5M) in a new investment round led by White Star Capital.

Besides White Star, the backers list includes new and existing investors, such as OpenOcean, Investinor or Telia.

Unacast, founded in 2014 by Kjartan Slette and Thomas Walle Jensen, developed a proximity and location data platform, Real World Graph, in order to understand how people and places are connected and to empower the next generation of data-driven industries with unique double-deterministic data.

The company has 40 employees distributed in the Norwegian and American offices and expects to reach NOK 100M ($12.7M) in recurring revenues. In 2016, the company accounted NOk 12M ($1.5M) in losses.

Prior to this deal, Unacast raised more than $6M in equity investment, from investors including NewMark, Luminar, Bill Wise, Jonah Goodhart and Michael Barett.