Mytraffic, a European start-up specialising in location analytics, has raised €30 mln in a seires B round led by AXA Venture Partners (AVP).
The round takes the total equity raised by Mytraffic close to €45 mln, thanks to historic investors such as Alven which led the Series A in 2021, and Pierre Kosciusko-Morizet’s Kernel fund, which led the seed round.
The software-as-a-service firm already serves over 400 clients across seven European countries, namely France, UK, Germany, Spain, Italy, Belgium and the Netherlands.
Mytraffic’s new funding round will support the development of its location analytics platform and accelerate its growth across Europe.
Hakim Saadaoui, co-founder and CEO of Mytraffic said: '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and the volume of real-time accurate information available to any website manager, and the imprecise, partial and outdated insights currently available to physical location operators. We aim to restore this imbalance.'
Retailers (McDonald’s, Amorino, The Body Shop), real estate operators (JLL, Nhood, Redevco) and city authorities (Montpellier, BME Brussels, Karlsruhe ME) currently use its platform to select the best locations to open stores, monitor the performance of their real estate assets, attract visitors, and negotiate leases.
Mytraffic has been doubling its revenues every year for the past three years and expects to do so again in 2022 and 2023.
Planned product developments include tourist insights, purchasing habits and rental value. This will complement existing analytics such as footfall data, vehicle traffic, competitive benchmarking, catchment area monitoring and visitor profiling.
Recruitment across its seven European locations will continue, with 20 senior hires across various fields (Tech, marketing, business acquisition, design, legal) and more than 30 sales representatives.