Finnish startup Mobal has announced a €2 million seed funding round from Lifeline Ventures, whose previous investments include Wolt, Supercell, Smartly, and Aiven, to mention a few. The Helsinki-based startup focuses on providing the best services and software solutions to help businesses ensure that their online presence is as accurate, up-to-date, and as effective as possible.
Over 60% of consumers say incorrect information in a business listing would stop them from choosing that particular business. Business listings are replacing websites, and typically, it is the last thing a business owner will spend time optimizing, as they have so many portals and mediums to keep track of nowadays. But current consumer trends all point toward it being more important and relied upon than ever.
Viewing the Google Business profile represents the single most significant amount of time the business has visibility to consumers. It is when they are at their most receptive to conversion. This is because the consumer has actively sought that company or industry type out. So how do businesses optimize this location-specific digital storefront best?
As of early 2020, the answer has been Mobal. Their concept, business plan, and execution have earned them the interest of Lifeline Ventures. The €2 million injection from the Finland-based prominent venture capital fund will help further accelerate the growth of the business.
Founders Jakob Wikström and Alexander Silén recognized that many businesses were missing out on this opportunity and founded Mobal to cater to this need with globally leading location marketing services and software solutions. The service and solutions they provided were targeted specifically to ensure that their customers’ businesses rank high in a Google search, have outstanding reviews, exceptional content, and accurate information regarding opening hours and contact information. This all results in an increase in conversions and sales, driving the growth and development of their customers.
“We all use Google businesses on our phones daily, to find opening hours, reviews, directions, and more. As a channel for reaching consumers, it can no longer be ignored or left behind. That is why we exist.” Jakob Wikström, CEO & Co-founder
Potential customers and Mobal employees have taken notice, as this milestone represents the beginning of large-scale development, not only to serve their clients better but also to increase the Mobal workforce exponentially. ” We have from the beginning built our processes to support our growth and are excited to put this investment directly into the business development and growth.” adds Wikström.
Running a business is tough these days, with so many channels to manage and the actual company itself. In reality, consumers are always looking for a great experience throughout their entire customer journey.
“We saw the need to develop our retail-stores digital presence. By taking care of our online presence on Google, the number of calls to our stores has increased, so we see that the development and constant updating of all of our locations across the country have been effective.” Lotta Taipale – Retail Marketing Coordinator at Reima
Mobal is focused on taking care of location-based marketing so that their clients can focus on their business. This results in a seamless, unique customer journey that naturally inspires consumers to leave positive reviews, organically and exponentially improving the business’s online health.
“We invested in Mobal because we believe in the founders vision of providing a service to bridge the gap that brick and mortar stores face when managing their location marketing presence. Jakob, Alexander and the core team also convinced us with their energy and customer-centric drive for success. We are looking forward to the exciting work of helping them build Mobal into the number one tool that physical stores use for driving inbound traffic to their locations.” Kai Backman, Partner at Lifeline Ventures
Around 90% of the whole world population only look at the first-page results on the search engine. With Mobal, companies of all sizes, from local cafes to enterprises, can increase their discoverability, drive better engagement, and strengthen their brand reputation online.