VC firms back Uberall's bolt-on of Navads

Berlin-based VC firm Project A also took part in the extension, as well as internet services business United Internet.

The total round now amounts to $50m, after HPE, Project A and Holland Private Equity invested $25m in the first part of it in February 2018.

Navads CEO Lex ten Veen said in a statement that the integration will create one of the largest location marketing platforms in the world. After the acquisition, it will support 700,000 locations for 1,500 customers.

Project A led a seed round for Uberall in December 2012. It acquired a minority stake in the company for approximately €1m.

United Internet joined the board of investors after the company's $3.8m series-A round in April 2014, which was also led by Project A.

Company
Navads was founded in 2006 and is headquartered in Amsterdam. It provides location data to the databases that power the navigation and mapping industry, including Google, TomTom, Apple and Here.

People
HPE Growth Capital – Manfred Krikke (partner).
Uberall – Florian Huebner (co-CEO).
Navads – Lex ten Veen (CEO).

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