French Location Analytics Firm Mytraffic Nets $30M for Expansion

French location analytics company Mytraffic has raised 30 million euros ($30.1 million) in a Series B funding round.

According to published reports Tuesday (Nov. 8), the funding will help the company expand across Europe and recruit in a number of countries. It will also help Mytraffic develop products that offer insights into tourism patterns and purchasing habits to go along with the company’s footfall data, vehicle traffic, and visitor profiling tools.

In addition, the company says the funding round will help it outfit cities and merchants with location analytics — real-time information on real-world customer journeys that aims to mirror web analytics.

“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and the volume of real-time accurate information available to any website manager, and the imprecise, partial and outdated insights currently available to physical location operators,” said Hakim Saadaoui, the company’s co-founder and CEO. “We aim to restore this imbalance.”

Read more: Inside Foursquare’s Pivot from Customer App to Location Data Platform

As PYMNTS noted earlier this year, the old mantra “location, location, location” has begun to apply to every business — and not only developers, city planners, retailers and restaurants — as consumers shift their daily behavior between offline and online channels.

Gary Little, CEO and president of Foursquare, told PYMNTS’ Karen Webster that the insights from the data that moves with consumers — what they are doing and where they are doing it — could help companies fine-tune their interactions in real-time, letting them create optimized experiences for customers.

In many cases, that’s happening on a hyper-local level, with many people continuing to work from home and venturing out to shop or head to the office just once or twice weekly.

Little told Webster that the pandemic years were a “fascinating time” to keep the pulse on actual, physical human movement.

“What we are seeing now are different forces coming together,” Little said, “where companies have made a tremendous effort to digitize their infrastructure — and now there’s also a massive need to understand the consumer from across the physical and digital worlds, and how those worlds are colliding.”