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Back-end geolocation data providers SimpleGeo announced today that it has raised over $8 million in Series A funding. Included among the investors is Redpoint Ventures, First Round Capital and Foundry Group, which like SimpleGeo, is located in Boulder, Colorado. While the news of the funding is certainly interesting, the more fascinating story about SimpleGeo is how the company got to where it is today.
Last week during my stint at Boulder Startup Week, Occipital co-founder Vikas Reddy was gracious enough to let me stay with him rather than in a hotel. Oddly enough it wasn't until one of the late night mixers a few days into the event that I got a chance to talk with Reddy about Occipital and the company's history and evolution. As it turns out, barcode scanning, which the company is now well known for with its RedLaser application, was not their original plan, but rather a pivot made to take the company in a more profitable direction.