PlaceIQ Raises Funds to Develop Consumer Insight Product

In the US, location-based mobile audience builder PlaceIQ has closed a $15m Series C round of funding, which it will in part use to develop a consumer insights product and approach for organizations seeking to understand human behaviour.

PlaceIQ gathers geolocation data from social media networks, tweets and 'check-ins' to cell phones, along with retail information and local events. Sentiment analysis and other techniques are then used to create profiles of the type of people who are likely to be in specific places at specific times, and this data is used by advertisers to target mobile users with relevant ads based on where they are.

The firm's new funding has been led by new investors Harmony Partners and Iris Capital, with participation from existing Series B investors. Through this investment, PlaceIQ has formed a partnership with Publicis' digital intelligence network VivaKi to offer its technology to Publicis Groupe's agencies. New funding will also be used to support ongoing development of PlaceIQ's existing platform and solutions.

CEO Duncan McCall (pictured) comments: 'Having expanded our business significantly over the past year by delivering on the promise of location intelligence for agencies and brands, this new investment is a vote of confidence in our vision. We plan to build upon this foundation and truly demonstrate that mobile is a key to understanding consumer behavior, and our new partnership with VivaKi is a testament to this approach.'

Web site: www.placeiq.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.