PlaceIQ Closes $15 Million Series C Funding Round Led by New Investors Harmony Partners and Iris Capital
NEW YORK February 10, 2014 PlaceIQ, the company building more accurate audiences with location, time and real-world behavior, today announced that it has raised $15 million in a Series C financing round led by new investors Harmony Partners and Iris Capital. Additional new investor Iris Capital and existing investors from the companys Series B also participated in this round. With this investment, PlaceIQ is also expanding its relationship with Publicis Groupe through a strategic partnership with VivaKi, which will bring PlaceIQs technology to Publicis Groupes agencies.
For organizations seeking to understand human behavior, PlaceIQ derives intelligence from activities across time, space and consumer devices to uncover opportunities to learn about and connect with consumers with unrivaled clarity, quality and relevance. The investment from Harmony Partners and Iris Capital will support the ongoing development of PlaceIQs patented platform and suite of products that delivers high-fidelity mobile audiences to advertisers.
Having expanded our business significantly over the past year by delivering on the promise of location intelligence for agencies and brands, we are encouraged by the new investment as a vote of confidence in our vision, said Duncan McCall, CEO of PlaceIQ. We plan to build upon this foundation and truly demonstrate that mobile is a key to understanding consumer behavior, and our new partnership with VivaKi is a testament to this approach.
In the past quarter, PlaceIQ has made a series of appointments to its leadership team and announced a new set of products and analytics capabilities through its patented technology platform. The companys headcount has grown since the beginning of 2013, with the addition of more than 80 employees and an expanding sales force in Chicago, Los Angeles, San Francisco, and Detroit. PlaceIQ will leverage the latest round of funding to expand the business and pursue additional growth opportunities.
McCall continued, On top of a stellar year, we also achieved profitability in 2013. Its a huge accomplishment, and Im excited to show how this new investment will allow us to deliver our 2014 roadmap and build on our track record in innovation.
We were attracted to PlaceIQs explosive growth trajectory, strong team of hardcore data scientists and differentiated solution, said TK, TK of Harmony Partners. The feedback we heard from the companys customers and partners makes it clear that they are a company to watch in 2014, and were thrilled to support their continued growth.
Given their work to date, we believe that PlaceIQ is emerging as the leader in this space, and we reached out to them to express our interest in supporting the companys efforts financially, said Denis Barrier, Partner of Iris Capital. Based on our conversations with them, its clear that their track record for delivering results is resonating with the industry and PlaceIQs growth will accelerate in 2014.
In joining VivaKis Ventures portfoliowhich includes more than a dozen of the industrys most forward-thinking companiesall Publicis Groupe agencies will have access to PlaceIQs product suite with preferred pricing and a host of other benefits . The partnership will ultimately give agencies the ability to generate even more targeted audiences with PlaceIQs product offerings and data.
As mobile devices continue to ascend the marketing hierarchy, we have placed an emphasis on building a portfolio of partners that will give our agencies the absolute best mobile data, targeting and segmentation capabilities, said VivaKi Ventures Managing Director and VivaKi Chief Social Media Officer, Michael Wiley. We have partnered with PlaceIQ because they have a demonstrated track record with Starcom MediaVest Group, they have tremendous leadership, and they have a collaborative spirit that will allow us to co-create groundbreaking products to meet the needs of our clients.