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Placemeter Raises $6M Series A Funding

By TechTaffy Desk

Placemeter, a company that uses community sensors to map real world objects, has raised $6 million in Series A funding. The round was led by NEA, with participation from Qualcomm  through its venture capital group Qualcomm Ventures, Collaborative Fund, and existing investors. The company previously raised $1.7 million in seed funding from NEA, Triplepoint Capital, and other angel investors.

Placemeter has built a platform that runs computer vision algorithms on public, private and contributed video feeds. The company says these algorithms can detect and count pedestrians and vehicles in streets, estimate how busy places are, track how long people wait in line, measure the speed of cars, and so on.

[Image courtesy: Placemeter]

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