NEW YORK, Oct. 12, 2023 (GLOBE NEWSWIRE) -- pass_by, a global source of groundtruth, today announces that it has acquired the assets of two leading geospatial companies, Tamoco and Olvin to bring AI powered insights to the real-world.
The deal, which is for an undisclosed sum, will enable the newly merged company to bring an end-to-end suite of geospatial products and services to customers around the world.
These products have been built with retailers in mind, but have clear use cases within the commercial real estate and financial market sectors as well. At the forefront of this is the almanac platform, the most accurate, trusted and dynamic set of real-world data and insights in the market today. This includes a world-first predictive AI that accurately measures foot traffic for the next 90 days to 2 million retail stores.
almanac is supported by foot_traffic and mobility_events - data enabling geospatial analysis on any cluster of H2 or S3 cells, polygons or commercial sites.
The funding for this acquisition has been led by Investor Thor Bjorgolfsson with further support by a roster of incredible investors, including Brainchild Ventures, Untapped Capital, Steamwork Ventures, Former Nike COO Eric Sprunk, Former Coca-Cola Chief Growth Officer Francisco Crespo and Hollywood actor, Rob Lowe.
pass_by’s founder & CEO, Sam Amrani, said:
“Real-world businesses have been playing catch up since COVID; the advent of AI tools create a prime opportunity to access game-changing insights that can help optimize, analyze and ultimately grow their companies. pass_by is launching as a solution for every business - as the first provider of predictive foot traffic for all brick and mortar businesses.”
About pass_by
Founded in 2023, pass_by is a cutting-edge geospatial intelligence company dedicated to revolutionizing the industry with AI-driven solutions. Recognizing the challenges and gaps in conventional geospatial tools, pass_by has embarked on a mission to provide businesses with accurate, real-time, and actionable products that reflect genuine ground realities. pass_by aims to be the gold standard in geospatial intelligence, serving diverse sectors including retail, real estate, and finance.
For Media enquires please reach out to James Ewen - VP of Marketing at pass_by at james@passby.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3050e168-9d28-419a-95b1-d7fbb11e68a2
