LatamList – dataPlor, a leading provider of business location data in growing economies recently announced the closing of a $4M investment round from Space Capital, Quest Venture Partners , and ff Venture Capital.
With this investment, the company plans to build out a database product and invest further in technology, hire key people, and fuel its expansion to become the global data provider in Latin America. dataPlor plans to expand into Brazil, Chile, Peru, Argentina, and Colombia in 2020.
In the US and Europe, the wide availability of options to capture and verify data means that as soon as a business opens it has a digital footprint. However, in Latin America, there is a huge blank spot in online data from small businesses.
dataPlor plans to continue to solve this problem of finding accurate, up-to-date business data in Latin America, where roughly 75% of small businesses have no online presence and are therefore unsearchable. For businesses that are found online, 50% of the time the data available is incorrect, or outdated.
The company built a database in Mexico with over 1.5 million data points on brick-and-mortar businesses that are collected by a field team and diversified sources, which are then verified by humans, and are continuously updated using artificial intelligence and machine learning.
In one day, dataPlor is able to human verify up to 50,000 businesses, resulting in about 1.5 million verified businesses a month.
With the spread of COVID-19, having accurate, up-to-date data is critically important. dataPlor is the only data company in Latin America providing real-time business information to enterprise customers who rely on small business information to power mapping, sales & marketing, and data teams.
“This was incredibly important before COVID-19, but now in a COVID world it is absolutely critical to any organization to know what is going on in the small business ecosystem because they drive the economies of most Latin American countries,” said Geoffrey Michener, CEO and founder of dataPlor in an interview with LatamList.
Many of the world’s largest companies including UberEats, iFood, and American Express utilize dataPlor data to fuel their platforms and enhance their business operations.
