Placer.ai, a startup that analyzes location and foot traffic analytics for retailers and other businesses, announced today that it has closed a $12 million Series A.
The round was led by JBV Capital, with participation from investors including Aleph, Reciprocal Ventures and OCA Ventures.The funding will be used on research and development of new features and to expand Placer.ais operation in the United States.Launched in 2016, Placer.ais SaaS platform gives its clients real-time data that helps them make decisions like where to rent or buy properties, when to hold sales and promotions and how to manage assets.Placer.ai analyzes foot traffic and also creates consumer profiles to help clients make marketing and ad spending decisions.
It does this by collecting geolocation and proximity data from devices that are enabled to share that information.
Placer.ais co-founder and CEO Noam Ben-Zvi says the company protects privacy and follows regulation by displaying aggregated, anonymous data and does not collect personally identifiable data.
It also does not sell advertising or raw data.The company currently serves clients in the retail (including large shopping centers), commercial real estate and hospitality verticals, including JLL, Regency, SRS, Brixmor, Verizon* and Caesars Entertainment.Up until now, weve 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 told A Technology News Room in an email.
This presents us with a massive market, so were just focused on building out the types of features that will directly address the different needs of our core audience.
He adds that lack of data has hurt retail businesses with major offline operations, but that by effectively addressing this gap, were helping drive more sustainable growth or larger players or minimizing the risk for smaller companies to drive expansion plans that are strategically aggressive.
Others startups in the same space include Dor, Aislelabs, RetailNext, ShopperTrak and Density.
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, were 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.
*Disclosure: Verizon Media is the parent company of A Technology News Room.