PlaceIQ has raised USD4.2m in Series A funding for hyperlocal ad targeting from previous investors IA Ventures, kbs+p ventures, and angel investor Jerry Neumann, as well as new investors including U.S. Venture Partners and Valhalla Partners. The company will move from its startup location Colorado to New York.
PlaceIQ sifts through open source and commercial data sets to provide a sophisticated data map for advertisers, letting advertisers see the world as 100m ‘tiles’, identifying consumers’ likely interests through their location and the time of day. The system provides highly specific data without using personally identifiable information. It can also give data on retail sales volume, events, foot traffic by time, and social media.
With the new funding, PlaceIQ hopes to take advantage of location-specific audience analytics opportunities across mobile phones, tablets, digital billboards, and online and on TV.
Whitepapers
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