Valhalla Partners: Location-Focused Ad Startup PlaceIQ Raises $15M More

PlaceIQ, a startup that uses location data for mobile advertising, is announcing that it has raised $15 million in Series C funding. The company was founded in 2010, back when most of the interest in location-based ads was focused on geofencing — i.e., if you’re close to a store, you get an ad for that store. CEO Duncan McCall told me that PlaceIQ’s approach is more about “a proprietary understanding of the world,” where location data is used to build a broader profile of user behavior, which in turn can be used for targeting ads and tracking their success.