PlaceIQ, a NYC-based consumer behavior anlytics platform that connects physical and digital activities across time, space, and mobile devices, secured a strategic minority investment from Alibaba Group.
The amount of the investment – a follow-on addition to PlaceIQ’s 2016 Series D funding round – was not disclosed.
The company intends to use the funds to continue to develop its location-based audience platform and scale its operations globally, starting with the Chinese market. PlaceIQ plans to work with Alibaba Group on location-based online-to-offline (O2O) services such as marketing, consumer insights and data-driven decision-making.
Led by Duncan McCall, CEO and co-founder, PlaceIQ provides a platform that allows brands in retail, CPG, automotive, entertainment, travel, etc. to connect their own first-party consumer data with location data and insights, to gain a holistic view of the consumer journey and inform business decisions and more. The company also has offices in Palo Alto, Chicago, and Detroit.