Placer.ai, a startup that studies location and analyzes foot traffic analytics for retailers and other businesses, declared today that it has managed to raise $12 million in Series A funding. JBV Capital led the round, with investors such as Aleph, Reciprocal Ventures, and OCA Ventures also participating.
Offerings by Placer.ai
The funding will be utilized on research and development of new features and to widen the operation of Placer.ai in the United States.
Placer.ai was launched in 2016 and its SaaS platform offers its clients real-time data that support them in making decisions such as where to buy or rent properties, when to hold sales and promotions and how to take care of the assets.
Placer.ai studies foot traffic and also make consumer profiles to help clients make decisions regarding marketing and ad spending. It works by gathering proximity data and geolocation from devices that can share that kind of information. Co-founder and CEO of Placer.ai, Noam Ben-Zvi claims the company takes care of the privacy and follows regulation by displaying accumulated, unnamed data and does not gather personally identifiable data. It also avoids selling advertising or raw data.
Currently, the company serves clients that are involved in the retail business (including large shopping centers), including JLL, commercial real estate and hospitality verticals, SRS, Regency, Caesars Entertainment, Verizon and, Brixmor.
Other startups working in the space
“Up until now, we’ve been heavily focused on the commercial real estate sector, but this has very organically led us into retail, hospitality, municipalities and even [consumer packaged goods],” Ben-Zvi wrote in an email to TechCrunch. “This presents us with a massive market, so we’re just focused on building out the types of features that will directly address the different needs of our core audience.”
He adds that a shortage of data has hit retail businesses with primary offline operations; however, that “by effectively addressing this gap, we’re helping drive more sustainable growth or larger players or minimizing the risk for smaller companies to drive expansion plans that are strategically aggressive.”
There are some more startups involved in the same space include Aislelabs, Dor, RetailNext, Density, and ShopperTrak. Ben-Zvi says Placer.ai wants to differentiate by providing more types of real-time data analysis.
“While there are a lot of companies touching the location analytics space, we’re in a unique situation as the only company providing these deep and actionable insights for any location in the country in a real-time platform with a wide array of functionality,” he said.
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