With the completion of the latest fully subscribed funding of $3.4M USD, Local Measure is well positioned to leverage its unique geo-location technology to grow hotel and tourism sector revenues exponentially, expand globally through new offices in the U.S., Dubai.
SYDNEY and LOS ANGELES – Tourism brands continue to wrestle with the challenge of guest loyalty and repeat visits amidst third party disruption and increasingly fragmented customer relationships. Sydney-based Local Measure has raised $3.4M USD funding to continue to assist hotels and tourism businesses address this challenge, build loyalty and secure positive reviews while guests are still on their property.
The company's geo-location social intelligence product arms front line staff with unique real-time information to help them surprise and delight guests, detect and help resolve guest problems and negative reviews before they impact a property's reputation or performance, as well as providing data back to the brand to build loyalty among customers across the brand, and at multiple properties, in real time.
Local Measure is in place in hotels, theme parks and tourism businesses in more than 380 cities worldwide, and expects to grow to more than 1,000 hotels in the U.S. alone this year. Current clients include AccorHotels, Hardrock, Virgin Hotels and Club Med. Local Measure has realized more than 150% year on year growth in revenues from the hotel sector. The Company recently won the prestigious Emerging Innovator Award at the 2016 Phocuswright travel technology conference in Los Angeles.
"Customer loyalty is seen as a 'holy grail' for hotels and tourism brands, yet to date the industry has generally been unable to capture the data and preferences, in real-time, that customers share during their journey, missing an incredible opportunity to drive loyalty," said Jonathan Barouch, founder and CEO. "Our technology leverages the growth of social media to provide a new and powerful tool for hoteliers and tourism asset managers, who finally have a way to use social intelligence to positively impact guest experiences. Local Measure's location-based technology is tailor-made for hotels and tourism brands, providing end-to-end product features to promote gathering accurate, real-time intelligence. It is fully automated, easy to integrate, and low cost – helping hotels connect and engage with guests and deliver a fully personalized guest experience at scale."
"We are pleased to announce the completion of this capital raise and look forward to another year of substantial growth for Local Measure." Participants in the $3.4M round included private investors, funds and private equity firms in the Asia/Pacific region. Local Measure has raised $11.25M USD to date.
The company's Board of Advisors includes executives from SAP, Google and Salesforce. Alan Moss, a Local Measure Advisory Board member who is VP Sales & Operations, Google, said, "I'm delighted to be associated with Local Measure, whose social media intelligence platform is already the foundation of a fast growing, sustainable business. With tremendous growth potential in the U.S. and among hotel brands worldwide, the company will scale even more quickly in 2017, and I look forward to continued good news in the weeks ahead."
Local Measure will be opening a sales and account management office in Dubai in January followed by an office on Los Angeles later this quarter adding to existing local offices in Sydney, Singapore, London and Miami.
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He currently studies Communication, Media & Culture in Panteion University of Political & Social Studies of Athens.