- Placer.ai recently announced it raised $100 million in Series C funding at a $1 billion valuation. These are the details.
Placer.ai — a leader in location analytics and foot traffic data — recently announced the closing of a $100 million in Series C funding round at a $1 billion valuation. This funding round was led by Josh Buckley with participation from WndrCo, Lachy Groom, MMC Technology Ventures LLC, Fifth Wall Ventures, JBV Capital, and Array Ventures.
The funding round also included the participation of leading commercial real estate investors and operators, including J.M. Schapiro (Continental Realty Corp), Eliot Bencuya and Jeff Karsh (Tryperion Partners), Daniel Klein (Klein Enterprises/Sundeck Capital), Majestic Realty, and others. The funding round will be used to expand the company’s R&D capabilities to further increase the pace of innovation.
Since launching in November 2018, Placer.ai has been adopted by more than 1,000 customers including industry leaders in commercial real estate and retail like JLL, Regency Centers, Taubman, Planet Fitness, BJ’s Wholesale Club, and Grocery Outlet. And in the wake of COVID-driven upheaval, the company saw widespread adoption among a series of new categories, among them hedge funds and CPG leaders including Tyson Foods and Reckitt Benckiser.
KEY QUOTES:
“Placer experienced significant growth during 2021 as a consensus formed across the market that accurate, reliable consumer behavior analytics is indispensable to brick and mortar decision-making. Yet, location analytics is just the foundation for a much broader and more comprehensive vision. With this funding, we will accelerate the development of the Placer.ai platform, adding an unprecedented range of new data sets – such as vehicle traffic, planned construction, web traffic, purchase data, and much more – as well as more advanced solutions to empower any professional with a stake in the physical world to make better decisions, faster than ever before. ”
— Noam Ben-Zvi, CEO and Co-Founder of Placer.ai
“Placer provides instant, simple and actionable insights to questions we’ve been asking as operators for over 30 years. The pace of innovation, the unique trust that the company has developed, and the massive market demand all point to the magnitude and scale of what this team can achieve.”
— Jeffrey Katzenberg, Founding Partner of WndrCo
“We have long felt like the disruption Placer can bring is massive, but the market demand has far exceeded our initial expectations. We see a powerful opportunity to continue partnering with Placer to improve the way decisions are made in the physical world, fundamentally improving the way these businesses and organizations operate.”
— Josh Buckley
