Geofeedia Raises $17M to Expand Sales, Improve Location Technology

By Felicia GreiffReal-time location technology monitor Geofeedia brought in $17 million in series B funding, for a sum of nearly $24 million in total. The funding will be used to further develop the company's technology and sales efforts. Sales offices are planned in New York and San Francisco in 2016, and the company is preparing for international expansion later this year.Within a geo-fenced area, Geofeedia's technology analyzes data from social media sources in real time so that brands can target audiences. Clients include Dell, CNN, Mall of America and the NCAA.The round was led by Silversmith Capital Partners’ $15 million investment with participation from existing investors.Additionally, the company said Todd MacLean, managing partner and co-founder of Silversmith, will join Geofeedia’s board of directors.Geofeedia was founded in 2011 and has offices in Chicago, Indianapolis and Naples, Fla.