A French location intelligence startup Mytraffic, has picked up €30 million in Series B funding in a round led by AXA Venture Partners (AVP), headquartered in Paris and backed Apricity. It was joined by existing investors Alven (which raised €350M and recently backed Bearer and Grafbase) and Pierre Kosciusko-Morizet’s Kernel fund. This follows the Series A round raised last year. With this, the total equity raised by the company is nearly €45 million.
Bullish to grow across Europe
Mytraffic’s new funding round will support the development of its location analytics platform and accelerate its growth across Europe. It includes planned product developments such as tourist insights, purchasing habits, and rental value. It will complement existing analytics such as footfall data, vehicle traffic, competitive benchmarking, catchment area monitoring, and visitor profiling. It will equip cities and shops with location analytics, which is real-time, precise information on customer journeys in the real world, that aims to mirror the web analytics available online.
It will also focus on recruitment across its seven European locations, especially Italy, Germany, Spain, and the UK, and grow existing offices in Berlin, Madrid, Barcelona, London, and Milan with 20 senior hires across various tech, marketing, business acquisition, design, and legal teams and more than 30 sales representatives.
Hakim Saadaoui, Co-founder and CEO of Mytraffic explained: “There is a huge discrepancy between the quality and the volume of real-time accurate information available to any website manager, and the imprecise, partial and outdated insights currently available to physical location operators. We aim to restore this imbalance.”
“The digitisation of our economies over the past 20 years has allowed brands, retailers, real estate and communities to benefit from big data and unprecedented software-powered treatment capabilities to optimise their online businesses. The pandemic has made it critical for offline businesses to have the same capacity and data for their activities in the physical world, while strictly respecting data privacy. Mytraffic offers a complete, anonymised SaaS solution, architected around the specific use cases of its customers, offering them tremendous value creation potential. We are proud to support them in their next stage of growth.”, said Benoit Fosseprez, General Partner at AVP.
Idea behind Mytraffic
Mytraffic was founded in 2016 in Paris by Hakim Saadaoui with experiences at Areva (VP in charge of business development and R&D), Rothschild (m&A) and as a strategy consultant, and Gautier Machelon, a serial entrepreneur who created Multiposting, Work4, and Reveal.
They realised there was a problem in the retail business due to the absence of traffic insights that can help take the right decisions related to the retailer’s physical network. Mytraffic resolves this by providing insights on stores,offices, malls, and logistic centres to retail, asset owners, real estate, and cities through its SaaS platform.
The company’s exclusive data and software allow property owners to set the right rental price, retail networks to select the best locations for expansion, shopping centre marketing managers to select areas to activate their marketing efforts, or city planners to assess the impact of a week-long food fair on the attractiveness of the city.
It has 120 employees with a gender balanced leadership team.
The post France-based Mytraffic picks €30M to provide digital intelligence to brick-and-mortar operators appeared first on Tech Funding News.