Boulder, Colorado based start-up PlaceIQ has announced today $4.2 Million in Series A funding, led by US Venture Partners, with Valhalla Partners joining existing investors IA Ventures, kbs+p ventures, and Jerry Neumann in the round.
PlaceIQ business is about “inferring user behavior based upon the attributes of a location“. The start-up basically breaks the world up into 100 by 100 meter 'tiles' and ingests and analyzes the ever increasing mass and diversity of location data being created within each tile - enabling an understanding of the type of audience present, their behaviors, and the actual place attributes, and how all these change over time.
The primary application of PlaceIQ is to empower marketers with hyper local knowledge and allows them to profile consumers not based on unique IDs but on the places they are more likely to be at. In a time when privacy is a rising concern, PlaceIQ strong message is “to enable privacy friendly mobile targeting.“
PlaceIQ business is about “inferring user behavior based upon the attributes of a location“. The start-up basically breaks the world up into 100 by 100 meter 'tiles' and ingests and analyzes the ever increasing mass and diversity of location data being created within each tile - enabling an understanding of the type of audience present, their behaviors, and the actual place attributes, and how all these change over time.
The primary application of PlaceIQ is to empower marketers with hyper local knowledge and allows them to profile consumers not based on unique IDs but on the places they are more likely to be at. In a time when privacy is a rising concern, PlaceIQ strong message is “to enable privacy friendly mobile targeting.“
As an example PlaceIQ mentioned that it worked with a partner to optimize online advertising using its location targeting, resulting in over a 118% increased in Click-Through-Rate.
As part of the funding PlaceIQ is also moving its main offices from Boulder, Colorado to New York City - in order to be closer to the U.S. advertising marketplace.
As part of the funding PlaceIQ is also moving its main offices from Boulder, Colorado to New York City - in order to be closer to the U.S. advertising marketplace.
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