The company plans to use the funds to develop its product features and accelerate its growth in France, Netherlands, Belgium, UK, Germany, Italy and Spain.
Mytraffic provides accurate and dynamic insights on physical places (stores, malls, offices or logistic centres) to retail, real estate, asset owners and cities through its Big Data platform. The exclusive data and cutting edge software allows 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.
Mytraffic’s core value is to accelerate and improve decisions on where, when and how much to invest in a specific area or location, to improve asset performance, to reduce the risk of decisions made and to monitor their impact over time.
“Thanks to Mytraffic accurate real-world data, physical asset owners and public decision-makers can now make evidence-based decisions, just as what e-retailers have been doing in the digital world for many years. It is a genuine revolution and this is what convinced us to partner with them,” says Rodolphe Menegaux, Partner at Alven.
Despite the Covid environment, the company has continued to grow rapidly over the last two years (x3 year-on-year recurring revenue growth by the end of Q2 2021) and it now has over 300 clients in Europe.
This round of capital will allow Mytraffic to strengthen its R&D capabilities, to invest in new use cases such as vehicle traffic analysis and to expand its sales and marketing talents pool to increase its market share in the UK, Belgium, the Netherlands, Germany, Spain and Italy.