Pass_by, which calls itself “a global source of groundtruth,” has acquired the assets of geospatial companies Tamoco and Olvin to bring AI-powered insights to the real world.
The deal, which is for an undisclosed sum, will enable the newly merged company to bring an end-to-end suite of geospatial products and services to customers around the world.
These products have been built with retailers in mind but have clear use cases within the commercial real estate and financial market sectors as well. At the forefront of this is the almanac platform, the most accurate, trusted and dynamic set of real-world data and insights in the market today, the company said. This includes a world-first predictive AI that accurately measures foot traffic for the next 90 days to two million retail stores.
Almanac is supported by foot traffic and mobility events data enabling geospatial analysis on any cluster of H2 or S3 cells, polygons or commercial sites.
“Real-world businesses have been playing catch up since COVID; the advent of AI tools creates a prime opportunity to access game-changing insights that can help optimize, analyze and ultimately grow their companies,” said Pass_by Founder and CEO Sam Amrani. “Pass_by is launching as a solution for every business as the first provider of predictive foot traffic for all brick-and mortar-businesses.”
The funding for the acquisition was been led by investor Thor Bjorgolfsson with further support by Brainchild Ventures, Untapped Capital, Steamwork Ventures, Former Nike COO Eric Sprunk, former Coca-Cola Chief Growth Officer Francisco Crespo and Hollywood actor Rob Lowe.
