Placer.ai, a Los Altos, California-based startup which helps retailers analyze foot traffic at their stores to identify opportunities for business growth, announced that it closed a $100 million Series C funding round at a $1 billion valuation.
The round was led by Josh Buckley, chief executive officer of the popular technology website Product Hunt. Several other angel investors participated as well along with a number of institutional backers, including Fifth Wall Ventures and Array Ventures.
The $100 million funding round announced will enable Placer.ai to build more features for its platform. The startup plans to expand its platform with additional types of data including information on vehicle traffic, real-estate developments, and online purchases.
Company: Placer Labs, Inc.
Round: Series C
Funding Month: January 2022
Lead Investors: Josh Buckley
Additional Investors: Fifth Wall Ventures and Array Ventures
Company Website: https://www.placer.ai/
Software Category: Location analytics
About the Company: Placer.ai, officially Placer Labs Inc., operates a platform that uses data from more than 50 sources to measure foot traffic at locations such as retail stores. Placer.ai provides retailers with actionable insights and location analytics into their audience and competition. With unprecedented visibility into humanity-in-action, every retailer can be brilliant at running their business. Today, Placer has around 1,000 customers across real estate and property, retail, consumer packaged goods, and municipalities some of the names include JLL, Regency Centers, Taubman, Planet Fitness, BJ’s Wholesale Club, and Grocery Outlet - which are using it to determine anonymized crowd movement, size, and sentiment to help with their decision making and strategic planning.