Location-Based Data Firm Gravy Raises $7.6M In Round Led By Gannett

Gravy, a location-based data analytics firm, on Thursday announced it has closed a $7.6 million round of Series A funding. Participating investors, included Gannett and MetTel. Existing investors, including Gravy’s board chairman Richard Braddock, also participated.

Robert Dickey, president of Gannett U.S. Community Publishing, has joined the Gravy board of directors, as has Steven Tunney, EVP of planning and strategy at MetTel.

Gravy gathers consumer behavioral data based on "verified" location data. The company asserts it verifies the location of consumers by first determining which events or activities are occurring at certain locations.

Gravy then creates geofences around those specific locations to take the guesswork out of location-based data, claimed David Dague, head of marketing at Gravy.

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Dague said the company’s goal is to remove questions such as “did the consumer actually attend an event, or did they just walk by?” out of location-based insights. Because Gravy tracks activity at certain events, it also helps put the data -- and the personas of the consumers -- in context.

Gravy is not a mobile ad serving network, said Dague, but said its clients -- i.e. brands -- can use the data for targeting or audience-segmentation purposes for use on ad networks.

When asked if Gravy had the ingredients needed to become a private ad exchange, Dague said: "It would be completely up to the needs, wants and approval of our clients; you never know what nine to 12 months might change."

“Our investment in Gravy made perfect sense,” stated Dickey. “Its unique ability to personalize the local user experience while enhancing advertisers’ ability to reach local consumers with relevant messages represent two core values at Gannett.”

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