The Significance of Location Data in Modern App Development
For better or worse, location data has become an integral component of app development. Recently, a startup specializing in AI market research based on location data, Placer.ai, has quietly raised $75 million at an expanded valuation of nearly $1.5 billion.
What is Placer.ai?
Placer.ai provides a wide range of location-based analytics to companies across various industries, including retail, events and entertainment, CPG, real estate, financial services, and healthcare. The startup achieves this by combining AI with anonymized data sourced from third-party apps.
How Does Placer.ai Collect Data?
The company collects data through an SDK that it installs with hundreds of app publishers, as well as other third-party sources. This process ensures the data is anonymized before it reaches Placer.ai’s platform.
What Kind of Data Does Placer.ai Provide?
Placer.ai’s analytics cover general trends such as foot traffic at a particular location or for a specific store. However, they also provide more detailed data about who buys what and when, people’s demographic profiles, and more. While this method can be perceived as slightly invasive, it is not uncommon in the industry.
The Significance of Location Data
Location data has become increasingly valuable to businesses beyond app publishers themselves. At a time when there is growing awareness about data protection due to numerous high-profile data breaches, Placer.ai’s success serves as a reminder of just how much data we generate through modern life.
The Role of AI in Market Research
Placer.ai’s end users have been given the green light to explore integrating more AI into their workflows. Customers are looking for a holistic one-stop-shop platform for market research that includes all relevant underlying data, aggregations, and tools on top.
Exclusive Interview with Ingrid Lunden
In an exclusive interview, TechCrunch’s Europe Editor, Ingrid Lunden, spoke with Placer.ai’s team about their success in the location intelligence space. The full interview can be found below:
Interview with Placer.ai
Q: What sets Placer.ai apart from other companies in the location intelligence space?
A: We provide a holistic platform for market research that includes all relevant underlying data, aggregations, and tools on top.
Q: How do you see AI playing a role in your future development plans?
A: We plan to integrate more AI into our workflows to help customers build a one-stop-shop platform for market research.
Related Topics
- AI: The intersection of artificial intelligence and location data
- Business Analytics: Using data to inform business decisions
- Exclusive: In-depth coverage of Placer.ai’s success in the location intelligence space
- Fundraising: Raising $75 million at an expanded valuation of nearly $1.5 billion
- Location Intelligence: The use of location-based data for market research and analysis
- Retailers: Companies leveraging location data to inform business decisions
- Startups: Emerging companies in the location intelligence space
Conclusion
Placer.ai’s success highlights the growing importance of location data in modern app development. As AI continues to play a larger role in market research, it will be interesting to see how Placer.ai adapts and innovates in the space.
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