Placer.ai raises $75M at $1.5B valuation, reaches $100M in ARR
Placer.ai raises $75M at $1.5B valuation, reaches $100M in ARR
The foot traffic analytics platform increased its valuation by 50% after tripling its ARR and quadrupling its customer base.
Israeli company Placer.ai, which develops a location analytics and foot traffic data platform, has raised $75 million at a $1.5 billion valuation. This is a 50% increase from the $1 billion valuation it received when it raised $100 million in its previous funding round in January 2022. The latest round included only existing investors. Existing investors in the company include Josh Buckley, WndrCo, Lachy Groom, MMC Technology Ventures LLC, Fifth Wall Ventures, and Array Ventures. Placer has raised a total of over $240 million to date.
Placer.ai was founded in 2018 by Noam Ben-Zvi, Zohar Ben-Yehuda, Ofir Lemel and Oded Fossfeld. Placer’s foot traffic analytics platform allows customers with a stake in the physical world to generate insights into any property to help understand the factors that can drive success.
Ben-Zvi told TechCrunch, which first revealed the funding round, that the company had surpassed a $100 million annual revenue run rate in February, growing by more than 80% in the last 12 months. Ben-Zvi said the company’s ARR was nearing $30 million following its previous round in January 2022. Ben-Zvi also said the startup’s customer base has exploded to more than 4,300, growing from around 1,000 in 2022.
