Location based advertising platform, Placecast today announced raising a healthy $5 Million in its current round of funding. The funding came from Onset Ventures, Voyage Capital and Quatrex Capital. The service utilizes information based on location and numerous other data from consumers on the Web and based on their actions targets relevant ads at them. The service is also planning to step into the mobile web space and help bridge the retailer, shopper gap, letting shoppers receive alerts based on their location. The idea of integrating location based activity has definitely seen a great boom in the recent times and using it to target relevant ads is better than showing some ads set by default to appear for all.
