Mytraffic raises €30M series B to provide digital intelligence to brick-and-mortar operators
In a round led by AXA Venture Partners (AVP), Mytraffic, a SaaS offering detailed insights on any location in Europe, aims to bring location analytics to the level of web analytics.
Mytraffic is the largest European pure player in ‘location analytics’, helping over 400 clients across 7 European countries (France, UK, Germany, Spain, Italy, Belgium, Netherlands). 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. Its ambition is to bring location analytics to the level of online analytics by setting the standard for the quality and quantity of intelligence real-world operators have access to.
Hakim Saadaoui, Co-founder and CEO of Mytraffic explains: “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and the volume of real-time accurate information available to any website manager, and the imprecise, partial and outdated insights currently available to physical location operators.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.”
“The digitization of our economies over the past 20 years has allowed brands, retailers, real estate and communities to benefit from big data and unprecedented software-powered treatment capabilities to optimize their online businesses. The pandemic has made it critical for offline businesses to have the same capacity and data for their activities in the physical world, while strictly respecting data privacy. Mytraffic offers a complete, anonymized SaaS solution, architected around the specific use cases of its customers, offering them tremendous value creation potential. We are proud to support them in their next stage of growth.”, says Benoit Fosseprez, General Partner at AVP.
The round takes the total equity raised by Mytraffic close to €45million, 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.
Mytraffic’s new funding round will support the development of its location analytics platform and accelerate its growth across Europe:
- Planned product developments include tourist insights, purchasing habits and rental value. It 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.
1. Every year, 400 clients analyse more than 10,000 locations
Mytraffic has built a SaaS platform to quantify and qualify footfall in front of any location, anywhere in Europe. It has progressively expanded its platform’s capabilities to help a wide range of actors with fact-based decision making. Every year, clients analyse more than 10,000 stores, streets and neighborhoods, city centers or shopping malls. These include:
- Real estate asset managers who drive their performance, optimize marketing activities and attract the best tenants with real-time insights on portfolio, competition and current retail offering (Nhood, Redevco)
- Retail network developers who take the right decision for their next location and avoid costly failures (McDonald’s, Amorino, The Body Shop)
- City authorities who improve attractivity, reduce vacancy, and measure the impact of their policies (Montpellier, BME Brussels, Karlsruhe ME)
- Real estate brokers who optimize merchandizing and marketing reach of assets (JLL, Cushman & Wakefield)
- Research Analysts who enrich predictive models and anticipate performance assessment (IRI)
2. My traffic’s new funding round will support the development of its software and accelerate its growth across Europe.
Thanks to more than 5 years of research and development, Mytraffic has developed a set of complex algorithms, able to handle teraoctets of raw data points per year. Its software then transforms these data sets into easily accessible heatmaps, dynamic statistics and insights which respect to the strictest GDPR compliance rules.
Its ambition is to set a standard for the quality and quantity of intelligence real-world operators have access to. This means going beyond footfall analytics to encompass vehicle traffic, consumer behaviors, and other key metrics.
Over the next 24 months, its team of 100+ data managers, data scientists, data engineers and product managers will enrich its insights with additional high value aggregates:
- Vehicle traffic: complementary to footfall, this data is essential for assessing the number of people visiting shops and restaurants in suburban activity zones, where the car is the main means of transport and which are experiencing strong traction since the end of lockdown restrictions.
- Location-based consumer purchasing habits, to better estimate the relevance of a store opening
- Rent value, to compare footfall dynamism with rent value and better negotiate leasesKey developments also encompass a collaborative platform approach as well as advanced prediction and recommendation features. Mytraffic is thus recruiting robust software engineers to support an ambitious roadmap.
To support its growth across its markets Mytraffic will continue to recruit, especially in Italy, Germany, Spain and the UK, to grow existing offices in Berlin, Madrid, Barcelona, London and Milan. In the forthcoming months, it will hire 20 senior profiles across various fields (Tech, marketing, business acquisition, design, legal) and more than 30 sales representatives.
3. Mytraffic’s ambition is to bring location analytics to the level of online analytics.
Mytraffic has been doubling its revenues every year for the past three years and expects to do so again in 2022 and 2023. Its success has relied on the accessibility of its user interface, and on the quality and range of the available information. Its development mirrors the way the global web analytics industry has developed an offer for brands to understand customer journeys on the web.
By applying this approach, it aims to secure an important place in a location insight market worth €10bn in Europe in 2022, with about 200,000 players in a wide range of industries (retail, public sector, real estate, mobility).
The current funding round was led by AXA Venture Partners which joins current and historic investors such as Alven which led the Series A fundraising round in 2021 and Pierre Kosciuscko-Morizet’s Kernel fund.
Mytraffic is the European leader in location analytics. Its SaaS platform provides accurate and dynamic information about physical locations: shopping centers, streets and city centers. Created in 2015, Mytraffic is growing very fast, has more than 400 customers and is already present in 7 countries.
About AXA Venture Partners
AXA Venture Partners (AVP) is a global venture capital firm with over $1.5B of assets under management. AVP invests across stages in rapidly growing tech companies in enterprise, fintech, consumer and digital health sectors. With offices in New York, San Francisco, London, Paris and Singapore, AVP helps companies scale internationally. AVP also offers portfolio companies unique business development opportunities to further accelerate their growth.