Verizon Ventures, the corporate venturing division of US telecoms company Verizon, has belatedly emerged as the strategic investor behind Geodelic, a US-based location software company.
Geodelic closed its $7m series B round between April and end-June, and raised about $3.5m in its series A round. Venture capital firms Clearstone Ventures, Shasta Ventures and MK Capital were also part of the B round consortium.
Verizon has also previously invested $400,000 in Cardstar’s mobile loyalty management platform, according to news provider Mashable.