UK-based metaverse data intelligence platform GEEIQ has secured an $8.2 million investment led by YFM Equity Partners (YFM). The funding will allow the data platform to accelerate its scale-up plans, explore potential international expansion and develop its data platform products.
Since it launched in 2018, GEEIQ has grown by addressing a need for data intelligence in the metaverse market such as Roblox, Decentraland and Fortnite. By leveraging data from this space, the London-based data platform sees a natural evolution of social media to help brands navigate it effectively.
GEEIQ’s platform will help brands to make the most of their investment in virtual activations by using data to make better decisions and to measure the real-world impact of their engagements.
Reaching new virtual audiences
Charles Hambro, CEO of GEEIQ said, “We want to ensure that our company is as well positioned as possible to help visionary brands gain a data-driven and profitable presence in the virtual space. YFM have provided us with outstanding support from the outset of our relationship with them. Going far beyond what a typical investor would offer, they have taken the time to really understand the drivers of our business, which can be challenging in such a new sphere.”
GEEIQ’s technology makes it a reliable platform for brands that want to develop and optimise their virtual strategies. It could help them reach, engage, and retain new virtual audiences. The platform offers a subscription-based model with managed services included in contracts.
Helen Villiers of YFM says, “GEEIQ is testament to the fact that brands are beginning to take virtual environments and the metaverse far more seriously. We’re at an inflection point where traditional advertising and social media presence will no longer cut it for brands entering this space. They need tools like GEEIQ for KPI measurement and attribution.”
The funding round also included participation from GFR Fund and FOV Ventures.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
