The premise behind Spatial is to use the information it gathers from social media websites in order to help the people who use it feel empowered to navigate wherever they are in the world like a local.
Co-founder Lyden Foust says the social intelligence startup, which garnered approximately $2.1 million in seed funding this past October, uses more than 30 sources of social media in order to provide customers with information about places all over the world.
Spatial is a participant with the locally-based OCEAN accelerator in Oakley and that’s where he says the company got its first big break and the ability to connect with other investors who could help them bring their idea to fruition.
“When Spatial started the OCEAN program in January 2016,” Foust says, “the team began sending out a weekly email to Serra and other potential investors, reporting on their progress and asking for help.
From there, the company was able to get in to the Techstars Mobility Accelerator program, being one of 12 companies selected back in 2016. Then, Spatial seemed to find its ins with other investors, startup programs, and accelerators.
Foust says that Spatial kept its connections up-to-date on progress the company was making, enabling it to be able to get into the programs it did and garner the attention it needed.
“Techstars made Spatial visible to the Ford Motor Co., which decided to partner with Spatial to put its technology into Ford’s products,” explains Foust. “That’s why the team splits its time between Cincinnati and Detroit.”
Ford isn’t the only place that gave Spatial its momentum, however. Connetic Ventures got onboard and that meant Serra Ventures wanted in, too.
Foust says that when he talks with potential investors about Spatial, he wants them to feel like they’re hearing from a friend.
“We’re sharing a vision of what we believe the world is going to be, and what we’re building,” he said. “Spatial’s investors don’t just see a way to get a good return on their money – they truly believe in Spatial’s mission.”
Moving forward, Foust says that Spatial will hire data scientists who specialize in artificial intelligence.
“We are going to build something absolutely amazing and going to change the way people see and understand the world around them,” says Foust.