Foot traffic analytics platform Placer.ai has announced $4 million in funding and the launch of a free online tool allowing anyone in the retail industry to get insights into any physical place. "Now, anyone can make data-driven decisions with access to precise human movement analytics and a deeper understanding of audiences and competition. By harnessing mobile data from tens of millions of devices, Placer.ai applies the latest in AI, machine learning, and big data analytics to generate accurate insights and behavioral predictions for any location, store, or geographic area. The new Placer.ai analytics dashboard equips the brick and mortar industry with tools previously only available in the digital world," the company's announcement said.
Placer.ai is backed by more than 40 investors including Array Ventures, IrishAngels Ventures, and Stage Venture Partners, as well as angel investors such as Ran Makavy of Lyft, and Craig Abrahams of Playtika.
Among Placer.ai's customers are CBRE, Caesars Entertainment, Oath, Bain & Company, and the Santa Cruz Beach Boardwalk.
“We’re cracking open the ability for everyone in the retail industry to deeply understand retail consumers,” said Placer.ai CEO and Co-Founder Noam Ben-Zvi. “The online world enjoys a significant advantage when making critical decisions given existing tools that provide precise visibility into consumers’ actions. For the first time, Placer.ai offers that same level of accurate, dependable, and actionable information - now for the physical world.”
“Traditional retailers need to evolve or die for their businesses to compete head-to-head with online merchants,” said Array Ventures Managing Partner Shruti Gandhi. “Consumers still like going to physical events, shops, and restaurants, but retailers need to create more thoughtful experiences based on understanding their audience, which Placer.ai can provide. We at Array are very excited about the opportunity with Placer.”
Placer.ai is headquartered in Silicon Valley, with development offices in Tel Aviv.
Published by Globes, Israel business news - en.globes.co.il - on October 24, 2018
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