Location Based Analytics Company Gathers Momentum from Series B Funding
New funding is always welcomed by businesses, no matter how small the amount may be. However, when the funding received is in the millions its companies typically like to make a big deal of it.
Placed, a location based analytics company, has announced the reception of $10 million in a round of Series B funding. Series B funding, for those who do not know, is simply a second round of funding. This round was led by Two Sigma Ventures with participation from Madrona Venture Group.
Placed states that the latest round of funding will be used to expand its offering of location based insights and mobile ad intelligence products. Also, following the Series B funding, David Joerg, managing director at Two Sigma is joining the Board of Directors at Placed.
"Two Sigma’s data-intensive approach to investment management mirrors Placed’s approach to providing multiple layers of value from location intelligence, making this an ideal partnership," said David Shim, founder and CEO of Placed. "We’re excited to have Two Sigma, a successful technology driven investment management firm, join us as one of our lead investor partners."