Placecast Raises $5 Million For Location-Based Advertising Platform

Location-based marketing platform Placecast has raised $5 million in funding from Quatrex Capital, Onset Ventures and Voyager Capital.

Placecast’s platform uses proprietary algorithms that weave together location information and other data from audiences across the web, mobile, and email. Placecast then analyzes inventory, segments audiences and targets ads for maximum relevance for advertisers and publishers. Placecast manages all of a publisher’s web and mobile inventory, as well as serves targeted ads and messages into outgoing emails.

The startup is also getting into mobile web capabilities for retailers, enabling retailers to communicate with their shoppers about location-based alerts. Placecast aims to use these mobile alerts, which are opt-in, to drive in-store traffic. The new round of funding will be used to accelerate progress on the company’s this technology.