Site Selection Technology SiteZeus Secures Additional Funding
SiteZeus, a business centered on site selection technology for emerging and established brands, announced it has secured $2.2 million in funding from Chris Sullivan, Bloomin’ Brands partner and co-founder of Outback Steakhouse, as well as Baldwin Beach Capital.
SiteZeus has raised $2.65 million to date, and will use the new funding to expand its team and bring SiteZeus to market in 2015.
“The SiteZeus technology platform is driving the ‘fast data’ revolution, allowing the restaurant, retail, and hospitality industries to begin participating in the next evolution of data consumption and output," Sullivan says.
SiteZeus will launch site selection technology that incorporates data-driven location intelligence and site execution designed for retail, restaurant, and hospitality brands with 10 or more locations. Currently in beta, the technology has been deployed by more than a dozen brands that leverage its power to understand the core attribute drivers for their existing and new locations on a local, regional, and national level.
“The legacy site selection practice typically involves labor-intensive manual processes, static demographic analysis, inconsistent rankings, and decisions based on intuition—all of which results in wide disparities in the unit economics,” says Keenan Baldwin, COO and co-founder of SiteZeus.
“We’ve built the first real-time, web-based site selection technology to bring every single component of predictive location intelligence capabilities to users. The funding round will enable us to execute on our high growth expansion plans,” he says.
By automating the data sourcing, aggregation, analysis, and presentation, SiteZeus aims to allow brands and users to become their own site selection consultants. The technology consumes more than three billion data points across the nation within behavioral demographics, transportation patterns, points of interest, climate, sales cannibalism, social media, SEO, and real estate attributes such as parking, access, and square footage to produce the most powerful location intelligence available today.
SiteZeus plans to officially launch its site selection technology within the next month.