Hyper-Local Ad Targeting Startup PlaceIQ Raises $4.2 Million And Moves To New York City
Summary
PlaceIQ, a hyper-local ad targeting startup from Boulder, Colorado is moving to New York City, flush with $4.2 million in series A funding. As I explained in a post earlier this year: Mobile advertising inventory still goes largely unfilled because the relevance and targeting isn’t that good. PlaceIQ sifts through tons of data about locations to give marketers a mini-zipcode-like profile of each block. Then it normalizes the data and can guess what type of person is likely to be at that location at that time (a student, tourist, shopper, financial or tech worker, etc). It can also spit out information such as retail sales volume, events, foot traffic by time, and social media activity The company is still doing mobile ad targeting (on an anonymous basis), but now thinks there is a broader opportunity in location-specific audience analytics across mobile phones, tablets, digital billboards, and even online and TV.
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