Deals round-up | Placer.ai reaches unicorn status

Riding a wave of demand for location data in the wake of the pandemic, the analytics startup raised $100m in Series C funding, hitting a valuation of $1bn.

Placer.ai, used by companies like Regency Centres, Taubman and JLL, offers location analytics and foot traffic data to give clients a better understanding of how people use physical spaces.

The company saw “widespread adoption” of its platform in 2021 due to Covid-related upheaval, it said in a statement.

Noam Ben-Zvi, CEO and co-founder of Placer.ai, said: “Placer experienced significant growth during 2021 as a consensus formed across the market that accurate, reliable consumer behaviour analytics is indispensable to brick and mortar decision-making.”

He said that funding will allow the company to add a range of new datasets, such as vehicle traffic, planned construction, web traffic and purchase data.

The round was led by Josh Buckley, with participation from WndrCo, Lacy Groom, MMC Technology Ventures, Fifth Wall Ventures, JBV Capital and Array Ventures.

Recent proptech deals

Name | Envoy

Sector | Workplace management

What it does | Envoy is a hybrid workplace management platform, emphasising safety, compliance and security in the return to work

Deal details | A $111m Series C fundraise led by Brookfield Growth, the growth investing arm of real estate giant Brookfield. Other investors include BAM Elevate, Seven Seven Six, TriplePoint Capital and Elad Gil.

Reason for investment | Brookfield’s managing partner Josh Raffaelli called Envoy the “clear market leader” in workplace management. As companies explore and adopt hybrid working policies, demand is expected to follow. Brookfield’s involvement gives Envoy the potential to grow globally.

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Name | Foxtrot

Sector | Retail

What it does | Foxtrot is a “modern convenience store” that combines physical, community-focused shops with 30-minute delivery and five-minute in-store pick-up.

Deal details | A $100m Series C fundraise led by D1 Capital Partners, with participation from Monogram, Imaginary, Almanac, Wittington, Fifth Wall and Beliade.

Reason for investment | Monogram Capital’s co-founder hailed the company as the “clear leader” in understanding the future of retail. Foxtrot intends to open 25 new stores in 2022 across the US while investing in logistics to shore up delivery times.

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Name | Azibo

Sector | Financial services

What it does | Azibo offers services in the rental property market, including rent collection, bill payments, expense management, commercial banking, insurance and mortgage lending.

Deal details | A $19m Series A round led by SVB Capital, with participation from RET Ventures, Liberty Mutual Strategic Ventures, Victory Park Capital, Gaingals, Canaan, Khosla Ventures, QED Investors, Camber Creek, Assurant Ventures and Context Ventures.

Reason for investment | The combination of fintech and real estate is still an “underserved market”, SVB’s Beau Laskey said. The startup is looking to fill a gap in the market for tech targeted at independent landlords.

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Name | Alasco

Sector | Financial management

What it does | Alasco is a tool for managing the costs, profits and ESG data of real estate assets in one place

Deal details | A €35m Series B fundraise led by Insight Partners, with participation from ESG-focused investor Lightrock

Reason for investment | Like many proptech businesses, Alasco is trying to get real estate on track with sustainability. By combining financial and ESG metrics in one place, the startup makes the case for the two being inseparable, especially as regulations become stricter.

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