The startup will use the funds to offer advertisers precise, location based advertising based on the commuter’s route, the time they travel and where they live and work.
“Being part of Tritech Media gives us access to leading proprietary technology and market-share to deliver transport transaction solutions with corporate precise communications to a growing market,” said Justin Coetzee CEO of GoMetro.
Tritech Media has in recent times acquired stakes in a couple of startups including Ionizr, ProximityID and Geospatial Data Solutions, which has allowed it to build an extremely strong presence in and around shopping centres.
By investing in GoMetro, Tritech Media now has the opportunity to cover the vast majority of consumers across South Africa through the GoMetro app.
GoMetro’s location-based advertising engine has already been used by brands such as MTN, Burger King, Lunchbar, African Bank, Shoprite and FNB, and it has proven to be very effective – advertisers experienced up to a four-fold increase in campaign performance.
“This is such a great strategic acquisition for our group. Our aim is to cover where the consumers are in their daily life, and then to position precise and relevant brand advertising and communications based on their location,” said CEO and founder of Tritech Media, William Kirsh, wo joins the board of GoMetro.
The investment sees Tritech Media acquire 20% stake in GoMetro with the balance of shares held by 4Decades Capital, AngelHub Ventures and the founders.