Startups : ZENLY

ZENLY, FRENCH GROUNDBREAKING LOCATION SHARING STARTUP

 ATTRACTS TOP US INVESTORS TO ITS FUNDING ROUND

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French advanced algorithm engineers strike again. This time French startup ZENLY has produced a free app which gives an ultra-precise, real time, map location of your family and friends on your smartphone. This geolocation sharing app is available for Android as well as iOS users. If you want to stop showing your location, you can easily use a ghost mode.

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Where this French technology is a disruptive and unrivalled innovation is that it consumes battery energy very sparsely. This factor has meant that since its launch six months ago, ZENLY’s app has already been adopted by millions in 182 countries and believed to be growing at 10% weekly. Adolescents and Millennials would be using the app to meet up at music festivals, campuses, sports events etc.

On top of the app itself, ZENLY has the potential to turn into a formidable competitor in the social network field with exchanges carried out amongst friends based on their location. Apart from its very valuable groundbreaking technology, ZENLY will also be sitting on a goldmine of location data which could potentially be worth a lot to advertising companies.

Not surprisingly ZENLY’s second fund raising round in September 2016 quickly attracted €20 million from iconic US investors like Benchmark and Insight Venture Partners as well as French ones like Xavier Niel’s Kima Ventures, . In the case of Benchmark, without even waiting for ZENLY to set up an office in the US, Peter Fenton, a board member at this famous California based Venture capital firm, decided to participate right away in the round.

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He said he was “won over by ZENLY’s depth of technical expertise and their vision for the map as a basis for a whole array of social engagement … being able to see where your friends are and who they are with opens up a world of product opportunities, which if executed successfully will lead to one of the iconic companies of our lifetime.” Some investors see ZENLY as a future decacorn (ten times a unicorn which is valued at $1bn), that is a company which achieves a $10bn (€9bn) valuation.  

 

 

Sources : StartupWorld, lesechos.fr, Bfm business

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Published online on 30th September 2016


 

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