Last updated October 28th 2018

Placer.ai, a free online tool providing instant access to consumer insights for any physical location, has raised $4 million, the company announced Wednesday.

The company, based in California with an R&D office in Tel Aviv, is currently backed by more than 40 investors including LA seed fund Stage Venture Partners and angel investors like Craig Abrahams, CFO of Playtika.

Placer.ai uses artificial intelligence, machine learning, and big data analytics to generate insights, predictions, customer demographics, and foot traffic data for all locations, stores, or geographic areas, the firm said. The company has been in stealth mode since 2016.

“We’re cracking open the ability for everyone in the retail industry to deeply understand retail consumers,” the company’s CEO Noam Ben-Zvi said, “The online world enjoys a significant advantage when making critical decisions given existing tools that provide precise visibility into consumers’ actions. For the first time, Placer.ai offers the same level of accurate, dependable, and actionable information – now for the physical world.”

“It’s an absolute game changer,” NewMark Merrill President and CEO Sandy Sigal, a Placer.ai customer, says, “Most importantly, we can now get a complete understanding of a center’s health and ultimate potential.