Investment Values Location Data Firm Placer at $1.45bn

Location data specialist Placer.ai has raised $75m in funding, valuing the company at around $1.45bn. The money will be used to add more features and for business development.

Placer provides market intelligence based on anonymised location data sourced from third party apps: for example retail clients use it to analyse store performance (their own and competitors') and drive brick-and-mortar growth; real estate sector players to inform decisions about new and existing properties; and entertainment companies and venues to analyze visits and performance. The company, which partnered with customer data science pioneer dunnhumby in March, has been venture-backed since its launch, and raised $12m in a Series A round in 2020, $50m in a Series B in 2021 and $100m in a Series C the following year.

Now according to news site TechCrunch the firm's CEO and CFO have confirmed the closure of a further round and the valuation, a steep rise from around $1bn two years earlier. TechCrunch said the firm declined to say who had invested this time except that it including some existing backers; and also notes that it 'crossed an annual revenue run rate of $100 million in February'.

Web site: www.placer.ai .

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