This news comes on the heels of its Series C funding round. It plans to use the funding to incorporate new data sets into its offering. Here are the top-line bullets you need to know.
Placer.ai, a location intelligence startup, has raised $100M in Series C funding from WndrCo, Fifth Wall Ventures, and Array Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Placer.ai collects consumer foot traffic data in order to provide retailers with location-based insights into their customers and competitors.
- It has over 1K customers, including brands like Taubman, Planet Fitness, BJ’s Wholesale Club, JLL, Regency Centers, and Grocery Outlet.
- The company’s annual revenue is nearing $30M, and it has around 300 employees.
Source: Placer.ai
WHY DOES THE MARKET MATTER?
- The global location intelligence market is expected to reach a value of $29.8B by 2027, growing at a CAGR of 14%, according to Research and Markets.
- The increasing demand for location data and the tools for its analysis has increased among companies across industries as well as government agencies.
- Advancements in cloud computing, artificial intelligence, machine learning, blockchain, and big data have contributed to market growth.
