Placer.ai, a provider of location analytics and foot traffic data, closed a $50 million Series B funding round led by Josh Buckley, Todd Goldberg and Rahul Vohra, with participation from Fifth Wall, JBV Capital and Aleph VC. The funding will be used to grow the company’s R&D, expand sales and marketing teams, introduce additional reports and data sets and grow its recently-announced marketplace.
“As a business deeply rooted in offline retail, we expected COVID-19 to present a unique challenge. Yet adoption actually increased as a result of our ability to introduce certainty into such an uncertain environment. The result has been a clearer and deeper understanding by the market of the absolute imperative of location data to improve the decision-making process,” said Placer.ai CEO and Co-Founder Noam Ben-Zvi. “But our current offering is just the beginning, and we are fully focused on expanding the capabilities both through the development of a range of new features and tools, and the integration of a wide range of data sets through our marketplace. Placer.ai is rapidly becoming the market intelligence platform for anyone with a stake in the physical world.”
In the last year, Placer.ai continued to expand its presence in commercial real estate, retail, municipal governments and hospitality while advancing into new segments including consumer packaged goods and hedge funds. The result has been growing market adoption and an increasingly large and diverse reach.
“We saw firsthand the impact that the data is already having in reimagining the way business is done in retail and real estate broadly,” said Kevin Campos, partner on the retail and consumer Investment team at Fifth Wall. “Yet, what’s even more exciting is that we’re still only seeing a piece of the puzzle and know that there are so many other sectors where the data can be applied.”