This is a very, very exciting day for Placemeter, and we can’t help but share the joy! We just closed a $6M Series A round of funding, and are about to bring Placemeter to the next level.
We’ll dive into what that means for us and the team (we’re hiring by the way), but let’s go back in time for a minute.
How we started – Alex is obsessed with burgers
Two years ago, all I wanted was to get my burger faster…
I was standing in line at Shake Shack with my son, and I saw this webcam above the line. Back home I started writing code to process it, and predict when I could go back to the Shack and avoid the line.
It didn’t take long for me to realize that this was not just about burgers and lines.We know exactly how long it’ll take for that song to download or for that Uber to get to us, we know exactly how many steps we make every day or how well we sleep—how come we still don’t know how long the line is at Whole Foods? We also quickly realized how much cities and businesses need data to understand how citizens interact with their cities.
Growing into a company
Our first investor, blisce, made a bet on the company. Then our co-founder Florent jumped on board and turned that vision into the foundation of a real, ambitious business. Techstars helped us shape all this into an efficient and viable company. And things started to get real!
Fast forward a couple of years, and today, we are a stellar, tight-knit team of people who share this vision, and execute it majestically. We built a massive computer vision backend and network—literally never seen before. We aggregate a large number of cameras from various sources, and now cover a significant part of New York. And most importantly, a number of cities, retailers, and people are using our data and paying for it.
Enough talk about the past, let’s see what’s ahead for us.
The $6M Series A round was led by New Enterprise Associates (NEA) with participation from Qualcomm Ventures, Collaborative Fund, FundersClub, and existing investors TriplePoint Capital, blisce, and various angel investors who have been with us from the beginning.
What will we be building with this round of money? We’ll expand Placemeter’s platform and analytics to quantify the physical world at a larger, global scale. We will:
- Keep on building our world-class team in New York. (Join us!)
- Expand and automate our video feed ingestion and data delivery to customers.
- Grow our community of data-driven citizens around the world.
NEA General Partner Forest Baskett will join the our board and Qualcomm Ventures Vice President Quinn Li will join as a board observer. Both Forest and Quinn are perfect fits to help us scale up our platform, bringing experience and wisdom to Placemeter’s long-term planning. Forest, along with Ben from TriplePoint, took a bet on us in our seed round, and they were instrumental in helping us turn our vision into reality.
We couldn’t be more excited for the road ahead and we thank all the people who helped us get here. Onward and upward!
—Alex & Florent