Belgian location intelligence startup Accurat.ai raises €1M

Ghent-based Accurat.ai, a data-driven software firm that gathers and analyses GDPR data for merchants, has secured €1M in funding to scale its location-based market research operations across Europe.

With solid foundations in the Belgian and Dutch markets, the company plans to expand first into Germany.

The round saw participation from investors PMV, Angelwise, Ghent-based investors Lorenz Bogaert and Toon Coppens, and retail entrepreneur Jonas Deprez. Accurat.ai’s COO, Bart Putteman also invested in this round.

Accurat.ai mentions in a LinkedIn post, “We want to thank our investors, partners, and the Accurat team for their undying support and dedication. Together, we’re transforming the retail landscape with a new technology that combines location data insights and real-time retail market intelligence.”

Growth in three years

Steven Van Canneyt and Bart Muskala founded Accurat.ai a little over three years ago, driven by the belief that insights based on real-world behaviour held great potential. 

Accurat.ai is a location intelligence startup delivering actionable insights to major retail brands like Ahold Group, Lidl, and Aldi, as well as to media companies such as Clear Channel. The product, co-developed with early clients, helps brands make faster, evidence-based decisions.

The company has a pipeline of new features, some launching soon and others in development for the long term. Many of these enhancements come directly from client feedback, such as a transport mode solution and an expansion module for assessing new locations.

Co-founder Muskala, mentions that “the best part is a lot of the ideas we’re working on come from our clients. They brought in a lot with: “Hey, you know what would be really cool?” or “Can you guys do that?”.”

“We’re working on a transport mode solution as we speak. In a few months, we’ll be starting testing our expansion module allowing brands to define the potential of a new location taking into account the millions of trips and place visits we have collected over the past two years.”

Capital utilisation

Co-founder Muskala, says, “We’re really proud of our sub-zero churn rate. All of last year’s customers remain on board and are demanding extra services. Due to the scale up of our sales efforts, we’re signing up new clients regularly.”

With fresh marketing strategies and recent funding, the company is amplifying its reach and has joined the Cube and Esomar communities with plans to host talks at major industry events.

Currently active in the Benelux region, Accurat.ai is preparing to expand into Germany and France, responding to growing interest in its solutions. Entering new European markets is the company’s top priority, and it is dedicating significant resources to ensure a successful rollout. Accurat.ai is currently hiring.