Flybits raises $6.5 million Series B with Information Venture Partners, Portag3

flybits

Toronto-based Flybits has raised a $6.5 million Series B led by Information Venture Partners. New investor Portag3 Ventures and existing investors Robert Bosch Venture Capital and Trellis Capital also participated in the round.

Flybits allows real-time information about what your audience is doing on their mobile devices at the moment and allows businesses to respond accordingly; it also leverages data from proprietary and public sources, as well as device sensors. The “context-as-a-service” company then allows enterprises to drop content to the right user at the right time.

The company also has offices in the San Francisco Bay Area, London and Singapore.

“This funding will allow us to ramp up our sales efforts in the United States and Europe, reinforce our existing global presence and expand our product and engineering teams to strengthen Flybits’ unique machine learning capabilities,” said Dr. Hossein Rahnama, founder and CEO of Flybits. “Our product focus now is simplifying how our customers leverage their data ecosystem and drive customer engagement.”

Flybits has raised a total of $14 million in funding since launching in 2013, and says it has experienced sizeable month-over-month growth this year. Flybits has also had investors like Vodafone Ventures, the MaRS Investment Accelerator Fund, and Ryerson Futures in the past.

“We are excited by the prospects for Flybits,” said Robert Antoniades, co-founder and general partner at Information Venture Partners. “Financial institutions, and other enterprises, today are sitting on troves of customer data siloed throughout their organizations. Flybits has identified a unique opportunity to give them the ability to make sense of these disparate sources of information and leverage machine intelligence to engage customers in an innovative and unique fashion.”

Photo via StartUpHERE

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.