Mytraffic closes €10m Series A funding round led by Alven
Mytraffic, a startup that specialises in data insights for physical places, has raised €10 million with Alven as lead investor, alongside Kernel participating as an existing backer.
The company will use the funds to develop product features and accelerate its growth in the UK, as well as France, Netherlands, Belgium, Germany, Italy and Spain.
Founded in 2016, Mytraffic provides insights on stores, malls, offices and logistic centres to retail, real estate, asset owners and cities through its SaaS platform.
The software allows for the likes of property owners setting the right rental price, retail networks selecting the best locations for expansion, and mall marketing managers choosing areas to activate their efforts.
“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.
Mytraffic has over 250 clients in Europe, including, American Express, The Body Shop, H&M, and Carrefour, as well as nearly 100 cities and public entities, such as the City of Strasbourg, La Poste, the Caisse des Dépôts, Brussels or Karlsruhe.
"The Covid crisis has led to high volatility and has put, most likely in the long run, a lot of pressure on decisions regarding physical locations, for malls, shops, offices, logistics or city centre managers,” says Hakim Saadaoui, Co-Founder of Mytraffic.
“Our mission is to support them in coping with this uncertainty by taking decisions based on factual data.”
He adds: “We are grateful for Alven's and Kernel's trust. With this funding, we will increase our investments to hire new talents, improve our product differentiation, aiming at tripling our sales within two years and consolidating our leadership on the European market.”
