About Locals
Locals is a company based in London (United Kingdom) founded in 2020 by Timon Afinsky, Eugene Nevgen, Natalia Vodianova, and Sergey Gonchar. It operates as a SaaS (Software-as-a-Service), and Two-Sided Marketplace. Locals has raised $11 million across 1 funding round from investors including Formic Ventures, Goodwater Capital and TheSoul Publishing. The company has 4 employees as of July 31, 2022. Locals offers products and services including Community Platform, Event Management Tools, and Ticketing and Payments. Locals operates in a competitive market with competitors including Rigi, Catch+Release, Passes, TipTip and TagMango, among others.
- Headquarter London, United Kingdom
- Employees 4 as on 31 Jul, 2022
- Founders Timon Afinsky, Eugene Nevgen, Natalia Vodianova, Sergey Gonchar
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Sectors
Media & Entertainment
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Locals Ltd.
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Annual Revenue
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Net Profit
$-818.53 (USD)0as on Jul 31, 2022
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EBITDA
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Total Equity Funding
$11 M (USD)
in 1 rounds
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Latest Funding Round
$11 M (USD), Seed
Jul 18, 2023
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Investors
Formic Ventures
& 3 more
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Employee Count
4
as on Jul 31, 2022
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Products & Services of Locals
Locals offers a comprehensive portfolio of products and services, including Community Platform, Event Management Tools, and Ticketing and Payments. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A platform for building and monetizing communities online.
Tools for hosting and managing community events effectively.
Integrated system for selling tickets and memberships easily.
Funding Insights of Locals
Locals has successfully raised a total of $11M through 1 strategic funding round. The most recent funding activity was a Seed round of $11 million completed in July 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $11.0M
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First Round
First Round
(18 Jul 2023)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2023 | Amount | Seed - Locals | Valuation | Goodwater Capital , TheSoul Publishing |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Locals
Locals has secured backing from 4 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Formic Ventures, Goodwater Capital and TheSoul Publishing. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments in early-stage biotech startups are made by Formic Ventures.
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Founded Year | Domain | Location | |
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Investments in consumer tech sectors are managed by Goodwater Capital.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Locals
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Locals
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Locals Comparisons
Competitors of Locals
Locals operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Rigi, Catch+Release, Passes, TipTip and TagMango, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Platform offering to create & sell online courses
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| domain | founded_year | HQ Location |
User-generated content is licensed to brands through an online platform.
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| domain | founded_year | HQ Location |
Monetization-based social platform for content creators
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| domain | founded_year | HQ Location |
Content creators are enabled to monetize via a social platform.
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| domain | founded_year | HQ Location |
Personalized video messages and calls from celebrities are provided online.
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| domain | founded_year | HQ Location |
Music is promoted online by connecting musicians with influencers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Locals
When was Locals founded?
Locals was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Where is Locals located?
Locals is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Locals?
Eugene Nevgen is the current CEO of Locals. They have also founded this company.
Is Locals a funded company?
Locals is a funded company, having raised a total of $11M across 1 funding round to date. The company's 1st funding round was a Seed of $11M, raised on Jul 18, 2023.
How many employees does Locals have?
As of Jul 31, 2022, the latest employee count at Locals is 4.
What does Locals do?
A digital platform is offered by Locals for individuals and groups to build, organize, and monetize communities. Solutions are provided for event hosting, ticketing, payments, and analytics to foster engagement. The service is utilized across various sectors, including fitness, neighborhood organizing, and personal development, enabling real-world connections in a trusted online environment.
Who are the top competitors of Locals?
Locals's top competitors include Rigi, Personal AI and Passes.
What products or services does Locals offer?
Locals offers Community Platform, Event Management Tools, and Ticketing and Payments.
Who are Locals's investors?
Locals has 4 investors. Key investors include Formic Ventures, Goodwater Capital, TheSoul Publishing, and Michael Antonov.
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