Placer.ai Raises $75 Million

Location data, for better or worse, continues to be a part of the bedrock of how apps are built. Now a startup developing AI market research based on that location data, Placer.ai, has quietly raised $75 million at an expanded valuation of nearly $1.5 billion. The startup provides a wide range of location-based analytics to companies in verticals like retail, events and entertainment, CPG, retail estate, financial services and healthcare by combining AI with anonymized data that it sources from third-party apps. The investment underscores the growing value of location data for businesses beyond the app publishers themselves. And, at a time when more people are aware of data protection around mobile apps, not least due to a growing number of data breaches, it also serves as a reminder of just how much data we generate through modern life.