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Location intelligence startup Geoblink announced today that it closed a $1.1 million round led by Spanish VC Naut Capital.

Based in Madrid, the software-as-a-service (SaaS) startup helps businesses with physical stores understand their locations in order to create effective marketing and advertising strategies.

“Geoblink is contributing decisively to solving an existing problem in the retail industry, stimulating the adoption of new technologies by a traditional sector such as offline retail,” said Nauta Capital general partner Jordi Viñas. “The impact of Geoblink’s solution is measured by the huge size and economic importance of the industry that it optimizes.”

Geoblink has raised at least $1.5 million since its seed round last year.

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