POI Supplier Factual Raised $25m in Series A Round

Gil Elbaz (copyright Esthr)
Gil Elbaz (copyright Esthr)
Factual, a Los Angeles based start-up which supplies local listings to companies such as Facebook and Booyah, raised $25 million in a Series A round of funding. The financing was co-led by Andreessen Horowitz and Index Ventures, with participation from Michael Ovitz and SV Angel.

Since its inception in 2008 Factual collected a database of 25 million POIs in the United States, UK, Japan, France, Italy and Germany.

“We plan to use the funds to accelerate our rate of growth, expand our data offerings and services, and hire top quality talent, particularly engineers,” said Gil Elbaz, CEO of the company. “With that last goal in mind, we recently decided to open an office in the Bay Area (in addition to Los Angeles and Shanghai) in order to expand access to the technical talent pool.”

Factual business model is to offer free datasets but to charge for high level volume of API requests.

Factual’s CEO Gil Elbaz was previously one of the founders of Applied Semantics, the firm acquired by Google for its AdSense technology in 2003.

Thursday, December 9th 2010

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