London, May 16th, 2019 – “Sometimes the best ideas are really simple,” says Robert Genieser of ETF Partners, as he explains what attracted him to invest in the London based software company. “When we travel, we care more about how long the journey will take, not how far it is. iGeolise have built an exciting growth business based on the simple idea that minutes mean more than miles.”
A to B journey times are easy if you know your destination. But, what if you don’t? iGeolise have developed the TravelTime platform, comprehensive software that shows where you can travel within a given time period. Whether you are walking, cycling, driving or taking public transport, you get a shape showing the reachable area within a fraction of a second. This helps people to solve a range of problems – from where to look for a new home or to simply picking a mutually convenient meeting point. This is extremely useful for many companies, whether their businesses are in transport, retail, recruitment or even dating.
The idea might be a simple one, but the technology is not. The company has a dedicated team of 20 developers based in the Baltics, who have worked for 10 years on building complex algorithms which sort and analyse the plethora of publicly available city data, as well as a data team who work full-time on sourcing, cleaning and updating it. The company has worked with over 200 customers, many of whom access the platform through an open API.
“What’s really tough to do,” explains Charlie Davies, Co-Founder of iGeolise, “is to make these calculations quickly enough to allow end users to get near-instant results. Our ability to do this, and the quality of our data sourcing and cleaning, is what sets us apart.”
“Life is changing rapidly in the city,” adds Lucy Rands of ETF Partners, “as we seek to address the pressures of increased urbanisation, while looking to meet a growing desire to be green. We are excited because iGeolise often promotes public transport as the best solution, by putting time-based information at our fingertips. We are very excited to be working with impact-focussed forward-thinking entrepreneurs and believe iGeolise has a great future.”
Founded by a two-man team working from a loft in Surrey, iGeolise now has an international team spread across four countries. Peter Lilley, Co-Founder says, “Once people understand what TravelTime can do, they really want to work with us. It’s extremely powerful. We’ve experienced great demand, but have been resource constrained to date. It was incredibly important for us to find the right partners to grow and, with ETF’s network and investment, we will be able to take our early success to the next level.”
For more insight into iGeolise and to have a go with the platform: https://www.traveltimeplatform.com/
ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Our funds come from institutional investors, global corporations and family offices. We create value by investing in technology companies that make a difference. We call it ‘sustainability through Innovation’.
For more insight into ETF Partners’ view on Sustainability through Innovation, read our investor briefings.