Placemeter, a NYC-based developer of a real-time data platform that uses sensors implemented by the community and public video feeds to quantify and index the physical world, raised $6m in Series A funding.
The round was led by New Enterprise Associates, with participation from Qualcomm Incorporated, through its venture capital group Qualcomm Ventures, Collaborative Fund, and existing investors. In conjunction with the financing, NEA General Partner Forest Baskett will join Placemeter’s Board of Directors. Qualcomm Ventures Vice President Quinn Li will join Placemeter as a Board Observer.
The company, which had previously raised $1.7m in seed funding from NEA, Triplepoint Capital, and angel investors, will use the funds to expand its data platform and analytics.
Founded by CEO Alexandre Winter, Ph.D., and Florent Peyre, Placemeter has built a platform to help cities operate more efficiently and effectively. It runs computer vision algorithms on public, private and contributed video feeds, which can detect and count pedestrians and vehicles in streets, estimate how busy places are, track how long people wait in line, measure the speed of cars, etc.
Placemeter is a TechStars NY Spring 2013 company.