Placemeter Raises $6 Million in Series A Funding Led by New Enterprise Associates (NEA)
Investment to Help Scale Computer Vision Platform to Index the World in Real Time
NEW YORK–(BUSINESS WIRE)–Placemeter, the computer vision platform that translates common video feeds into structured data that can be analyzed in real time, today announced that it has raised $6 million in Series A funding. The round was led by NEA, with participation from Qualcomm Incorporated, through its venture capital group Qualcomm Ventures, Collaborative Fund, and existing investors. Founded by serial entrepreneurs Alexandre Winter, Ph.D., and Florent Peyre, Placemeter previously raised $1.7 million in seed funding from NEA, Triplepoint Capital, and angel investors. Placemeter will use the Series A round to expand its data platform and analytics to quantify the physical world at a larger, global scale.
Placemeter has built a platform that runs computer vision algorithms on public, private and contributed video feeds. These algorithms 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, and much more. By quantifying activity in real time and at a large scale, Placemeter is making locations more intelligent, more analytical, and more accountable to data.
“Building tomorrow’s smarter world is a collaborative effort that our platform fosters,” said Alexandre Winter, co-founder and CEO, Placemeter. “We are creating the first comprehensive quantified data layer about the physical world. With our data communities, businesses and institutions will better understand how citizens use their cities, how the physical world is used by people. We’re excited to use this investment to build up our platform and expand this data layer to a global scale.”