Geo-Data Provider PlaceIQ Relocates
Location analytics is spurring growth: with the addition of roughly three staffers a week, the company's taking over two floors in its new midtown digs.
Citing an increasing demand for location data, PlaceIQ is moving uptown from its Flatiron office to the newly renovated 5 Bryant Park Tower, where it will take over two floors with 45,000 square foot for its 160 employees.
The New York company, which has raised about $27 million in four funding rounds since its founding in 2010,is expected to add more than 50 additional employees by the end of 2015, as it grows into the new office space which can accommodate more than 300. During the first half of the year, the company has been on a hiring spree, adding about three new staffers every week.
In conjunction with its uptown move, PlaceIQ is also noting three new prominent hires designed to enhance its programmatic analytics focus:
- Mobile industry veteran Mandeep Mason is spearheading the company’s European expansion, bringing extensive experience from Microsoft and Nokia;
- Jeff Huter now serves as vice president of client and platform services, with a long and successful history of direct client management at Centro, AOL and eXelate; and
- Anita Gandhi’s addition as the vice president of customer analytics, a new role, having lead this function at global leader Experian.
“Throughout our growth from a small two-person desk at our founding, to this expansive new office, we’ve maintained the belief that businesses gain a competitive advantage when they understand location data with precision and accuracy – the consumer journey through the lens of location. This has resonated with leading brands,” said PlaceIQ’s Duncan McCall, CEO and co-founder.
On the business front, PlaceIQ has sought to attract major marketers and brands by opening up its main data product, CIP Analytics, widely to ad agencies and demand-side platforms. Through its agency deals and other partnerships, such as with Publicis’ Starcom MediaVest Group and Acxiom, PlaceIQ has also been working on connecting ads shown via addressable TV channels to in-store visits.
In the last month, it updated its Place Visit Rate, which helps show whether geo-targeted ads actually led consumers to a physical store, into Enterprise PVR. That product is being positioned as “the first in a series of enterprise products for PlaceIQ,” the New York company said in a release. Originally rolled out three years ago, the Place Visit Rate has generally been defined by PlaceIQ as a “a real-world KPI” that measures in-store ROI.