Israel location analytics and foot traffic data company Placer.ai announced today the completion of a $50 million Series B funding round. The round was led by Josh Buckley, Todd Goldberg and Rahul Vohra, with participation from Fifth Wall, JBV Capital and Aleph VC. The company will use the funding for R&D, expanding sales and marketing teams, introduce additional reports and data sets, and to grow its recently announced marketplace.
The company was founded by CEO Noam Ben-Zvi, data scientist Zohar Bar-Yehuda, CTO Oded Fossfeld and CPO Ofir Lemel. Since launching in November 2019, Placer.ai has been adopted by over 500 customers including industry leaders in commercial real estate and retail like JLL, Brixmor, Taubman, Planet Fitness, and Dollar General. The upheaval caused by Covid has also led to widespread adoption by other categories including Hedge Funds and CPG leaders.
Ben-Zvi said, "As a business deeply rooted in offline retail, we expected COVID to present a unique challenge. Yet, adoption actually increased as a result of our ability to introduce certainty into such an uncertain environment. The result has been a clearer and deeper understanding by the market of the absolute imperative of location data to improve the decision-making process," "But our current offering is just the beginning, and we are fully focused on expanding the capabilities both through the development of a range of new features and tools, and the integration of a wide range of data sets through our marketplace. Placer.ai is rapidly becoming the market intelligence platform for anyone with a stake in the physical world."
Published by Globes, Israel business news - en.globes.co.il - on April 27, 2021
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