MyTraffic, a French location intelligence business, has received €30 million in Series B funding in a round led by Paris-based AXA Venture Partners (AVP). The Kernel fund, which already had Alven and Pierre Kosciusko-Morizet as investors, joined. The Series A round that was raised last year came after this. With this, the business has virtually raised €45 million in stock.
The latest round of funding for MyTraffic will help the company continue to build its location analytics platform and hasten its expansion across Europe. It also covers anticipated product developments including tourist insights, shopping patterns, and rental value. It will supplement currently available analytics, including visitor profiling, catchment area monitoring, competitive benchmarking, vehicle traffic, and footfall data. It will provide location analytics, which is real-time, accurate data on customer journeys in the physical world that aspires to replicate online web analytics to cities and businesses.
Along with expanding existing offices in Berlin, Madrid, Barcelona, London, and Milan with 20 senior hires across various tech, marketing, business acquisition, design, and legal teams as well as more than 30 sales representatives, it will also concentrate on recruiting across its seven European locations, with a particular emphasis on Italy, Germany, Spain, and the United Kingdom.
“There is a big gap between the quality and amount of real-time, correct information available to any website manager and the inaccurate, incomplete, and out-of-date insights now available to physical location owners,” said Hakim Saadaoui, co-founder and CEO of MyTraffic. Our goal is to correct this imbalance.
“Over the past 20 years, our economies have undergone a digital transformation that has given brands, retailers, real estate, and communities access to enormous data and previously unheard-of software-powered treatment capabilities for improving their online enterprises,” said Benoit Fosseprez, General Partner of AVP.
“Due to the epidemic, offline businesses must closely adhere to data privacy laws while maintaining the same capacity and data for their operations in the physical world. MyTraffic provides a comprehensive, anonymized SaaS solution built around the unique use cases of its clients, giving them enormous possibilities for value development. We are happy to support them in their next growth stage,” Benoit added.
MyTraffic was founded in 2016 in Paris by Gautier Machelon, a serial entrepreneur who founded Multiposting, Work4, and Reveal, and Hakim Saadaoui, a VP responsible for business development and R&D at Areva, Rothschild (m&A), and a strategy consultant.
Due to the lack of traffic data that can aid in making the best decisions regarding the retailer’s physical network, they realized there was an issue in the retail industry. MyTraffic addresses this by using its SaaS platform to offer insights on stores, offices, malls, and logistical centers to retail, asset owners, real estate, and cities.
With the help of the company’s proprietary data and software, property owners can determine the ideal rental rate, retail networks can decide which areas to expand into, shopping center marketing managers can choose where to focus their marketing efforts, and city planners can determine how a weeklong food fair will affect a city’s allure.
Image Credit: MyTraffic
