what3words Ltd.

what3words Ltd. is a technology company that revolutionizes geolocation by dividing the world into 3m x 3m squares, each labeled with a unique combination of three words, enhancing location sharing and navigation. what3words Ltd. was founded in 2013 in London, UK, focusing on simplifying location communication.

The company has undergone a strategic shift towards enhancing its technology for various applications, particularly in logistics and emergency services. Founded by Chris Sheldrick and Jack Waley-Cohen, what3words has raised a total of GBP 58. 230 mn across multiple funding rounds, with the latest being a Series C round in which it secured GBP 58. 230 mn from investors including German Media Pool.

As of now, what3words holds a company valuation of GBP 268. 078 mn. what3words offers an innovative geolocation system that divides the globe into a grid of 3m x 3m squares, each defined by a unique trio of words. This system facilitates precise location sharing and navigation, addressing challenges faced in logistics, emergency services, travel, and delivery sectors.

Their technology is utilized by a variety of clients including logistics firms and navigation app developers, enhancing location accuracy and communication. The company operates in markets across the UK, US, Australia, and various European and Asian countries, broadening its reach in location-based services. In the most recent fiscal year 2024, what3words reported a revenue of GBP 2,753,204. 40.

The company generated revenue through subscription models and partnerships, targeting business-to-business transactions. Their clients, which include logistics companies, leverage what3words' services to optimize their delivery systems, facilitating accurate drop-off locations using the three-word addressing format. The company's pricing model caters to diverse business needs, enabling clients to select plans based on their usage and integration requirements. what3words intends to expand its operations by designing new products aimed at enhancing its geolocation technology.

The firm is focusing on entering additional international markets, though specific regions have not yet been disclosed. Recent funding from Alexstrasza Holdings will support these initiatives, enabling what3words to innovate and develop its technology further.