What it does
It taps into the US$160bn digital advertising industry, working in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns.
Its core product is Verify, the world's first independent location verification product, which detects location ad-fraud and shines a light on location data inaccuracy.
Among its clients are billboard advertiser JCDecaux, the world's largest outdoor ad company, and the7stars, the UK’s largest independent media agency, which serves huge brands such as Papa Johns and Nintendo.
How it's doing
Location Sciences reported revenues growth of 60% to £1.2mln for 2019 and said it had agreed to sell its location data collection assets to US location specialists X-Mode as part of a new partnership.
The AIM-listed company has over the last year increasingly been focused on growing its verification platform, Verify.
In March, two potentially significant deals were announced.
One was for a global master service agreement with a large advertising holding company while the other was a partnership agreement with Horizon Media, one of the world’s leading independent media agencies.
The agreements follow multiple tests carried out at the end of 2019 using the Verify platform.:
What the boss says: Mark Slade, chief executive
"These agreements are pivotal for us as we operate in an emerging market.
“Furthermore, they demonstrate that the relevant stakeholders in these large multi-national agencies recognise the potential of, and back, our technology and capabilities.
“While we are still relatively early in our journey as a business, these agreements give us access to a large pool of location advertising spend.”
Latest Proactive research video
- Location Sciences says the digital advertising market place remains unregulated and unmonitored, with an estimated US$19bn wasted on ad-fraud in 2018
- Analysts say it offers a unique verification solution into a mobile advertising market of more than US$145bn
- The company says it has laid "solid foundations" to grow Verify globally