Placed is a location-based analytics company that runs an opt-in mobile surveying panel that reaches over 175,000 million locations daily. The company has announced $10 million in Series B funding led by Two Sigma Ventures. Existing investor Madrona Venture Group also participated in this round.
David Joerg of Two Sigma is joining the Placed board of directors. Placed has been developing a ratings service for real world places over the last several years. Placed pays people in the form of an Amazon gift card or PayPal payout for tracking your location throughout the day.
Placed will send you a survey through push notifications to confirm your location on a specific date and time. The surveys gives you points that build up and can be traded in for gift cards of $2 to $5 or for sweepstakes with higher prizes.
Placed’s customers include PayPal, Rocket Fuel, Millennial Media, Thinknear, Verve, and xAd. Placed counts over half of the top 25 mobile ad networks and publishers in the U.S. as its customers.
This round of funding will be used to open up Placed’s New York office in the next month and help support demand from brands. Placed will also use the funding to accelerate hiring across sales, operations, and engineering.