Despite the challenges of the COVID-19 pandemic, Placer.ai has seen significant growth, with an 80% increase in the last year and expectations of a further 60% growth this year. The company has also expanded its customer base to over 4,300, including Sony, Wegmans, and Century 21. The startup's success underscores the growing value of location data for businesses.
Key takeaways:
- AI startup Placer.ai, which provides location-based analytics, has raised $75 million at a valuation of nearly $1.5 billion, a 50% increase from its last round.
- The company sources anonymized data from third-party apps and offers insights on general trends, demographic profiles, and detailed consumer behavior to various industries.
- Despite the pandemic, the company has seen significant growth, crossing an annual revenue run rate of $100 million in February and expecting to grow another 60% this year.
- The new funding will be used for business development and to add more features and datasets to the platform.