Placer.ai has raised $100m to expand its platform.

The geolocation data provider will use the funding to build out its user base and bring in more physical and digital datasets — including vehicle traffic, planned construction data, web traffic and purchase data — to supplement the datasets it currently sells, according to published reports.

The new funding round values the data provider at $1bn, making it the latest data provider to join the billion-dollar-valuation club. Other members include SimilarWeb, PatSnap and Dataminr.

The greater number of data providers achieving high valuations lends legitimacy to the staying power of the alternative data industry, Neudata wrote in its 2021 Trends white paper report. 

Download a copy of Neudata's 2021 Trends white paper here >

In April 2021, Placer.ai raised a Series B of $50m to expand its location analytics capabilities.

The most recent round of funding comes from a mix of strategic and financial investors, including Josh Buckley (CEO of Product Hunt), MMC Technology Ventures LLC and several real estate investors.

Photo by JOSHUA COLEMAN on Unsplash