PlaceIQ Funds UK Expansion with $25m Investment
- Tuesday, January 19th, 2016
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Location audience and analytics platform PlaceIQ has just completed a new funding round, securing $25m (£17.5m) in investment to further its expansion in the UK, strengthen its EMEA division and fuel further development for its industry-leading platform.
The company is aiming to build a new model of consumer behaviour developed by connecting physical and digital activities across time and space, and spanning different mobile devices. It currently provides consumer analytics and media targeting for some of the worlds largest retail, CPG and automotive brands, among others.
The funding will be used to expand existing operating in Europe as well as build new products to meet growing demand from agencies, brands and channel partners, and invest more in the companys award-winning Place Visit Rate foot traffic measurement technology that provides granular data on consumer visitation across the entire purchase journey.
“PlaceIQ has pioneered a new way of understanding consumer behaviour,” said Duncan McCall, CEO and co-founder of PlaceIQ. “Weve spent the past five years building the go-to location technology that brands have adopted to unlock new insights when marketing to consumers across all key industries.
“With this funding, we see the chance to deepen our ability to service clients by industry vertical, as well as horizontally along business decisions. Virtually all marketers now see the need to understand their customers via their mobile behaviours, and to integrate this understanding with other data sets to produce new, more actionable insights.”