Yahoo! JAPAN leads the IndoorAtlas’ 2019 financing round
OULU, Finland – June 18, 2019 – IndoorAtlas, the leading global indoor positioning platform provider, today announces that it received an investment from its existing shareholder Yahoo! JAPAN who leads the 2019 investment round as the first closing is completed.
The indoor location-based market in Japan is growing fast thanks to the extraordinary indoor infrastructure in Japan. People are spending a great amount of time in indoor environments, such as underground transportation hubs, which are offering a growing number of services and experiences to millions of customers on a daily basis. Smart indoor spaces are actively being developed in both private and public sectors – all this creates a high demand for proven location-based technologies such as IndoorAtlas’ indoor location platform.
Yahoo! JAPAN is the most prominent map and location-based services provider in Japan and has, since 2016 been using IndoorAtlas’ technology in the Company’s products to offer new location-based experiences to its customers. Now the two companies are deepening their relationship further with the latest IndoorAtlas’ financing round.
“IndoorAtlas has proven that its technology works in scale in the highly quality conscious Japanese market. This technology enables Yahoo! JAPAN to deliver great new user experiences to our users and clients and to build new location-based business in Japan. We see a growing interest in IndoorAtlas’ technology in Japan in both B2C and B2B businesses. We are committed to work with IndoorAtlas and to grow the business in Japan together, which is the reason we wanted to invest more into our important relationship”, says Chiaki Fujimon, CTO of Yahoo! JAPAN.
“Stronger partnership with Yahoo! JAPAN enables us to continue to expand in Japan that is one of the most interesting markets today what comes to location-based services. Yahoo! JAPAN’s latest investment is an honor for us and proves that we are going into the right direction together, and that we are sharing the same vision”, says Erik Piehl, CEO of IndoorAtlas.
About Yahoo! JAPAN
Yahoo Japan Corporation was founded in 1996 and operates Yahoo! JAPAN, one of the largest portal sites, in Japan. Offering more than 100 services including search, news and e-commerce via PC and smart devices, Yahoo! JAPAN serves more than 90 million daily unique browsers, and 70 billion monthly page views on average. For more information, please visit yahoo.co.jp.
Founded in 2012, IndoorAtlas is a global Platform-as-a-Service leader in indoor positioning. Its patented geomagnetic-hybrid technology utilizes the built-in sensors in smartphones to pinpoint a location indoors. It provides to thousands of developers with a scalable platform to build location-based services without the need to purchase, install and maintain large amounts of costly infrastructures. The platform supports both Android and iOS, and customers can utilize the provided geoinformation to build indoor location-based services, such as proximity advertising, search and wayfinding, within their application. For more information, please visit indooratlas.com.