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At a Glance
California-based Placer.ai has raised $50 million in Series B funding led by Josh Buckley, CEO, Product Hunt, angel investor Todd Goldberg, and Rahul Vohra, Superhuman’s CEO. Earlier this year, Placer had raised $12 million in Series A funding led by JBV Capital.
Placer.ai shall use the proceeds in research and development and in expanding their sales and marketing teams. So far, they have raised about $50 million after announcing their “tripled business” last year. Fifth Wall and returning investors JBV Capital and Aleph VC had also participated in this Series B funding.
Launched in 2016, Placer’s SaaS provides clients with real-time information and decision on where, when, and how to manage buying, renting, and managing properties and assets. They use cell phone data to track pedestrian foot traffic around retail properties and relays information and feedback on the performance of these assets and stores to building owners.
Currently having over 160 employees in Silicon Valley, Placer.ai plans to double its headcount. While Co-Founder and CEO of Placer.ai, Noam Ben-Zvi, stated how the COVID-19 pandemic made people purchase online than from stores, adoption of their technology in several new segments such as consumer packaged goods (CPG) and Hedge Funds has been significant. Placer.ai is also continuing to expand in retail and commercial real estate. Ben-Zvi also expects their CPG user base to continue growing as more stores open.
“Placer allows businesses that operate offline to make data-driven decisions, fundamentally improving the way they operate. This is the same type of tooling that online businesses have used to grow, moving from hunches to definitive answers. I’m excited to be partnering with the company’s next phase of growth and product development.” Ben-Zvi comments.