In one aspect, a system for providing seed-specific placement of fluid as seeds are planted by a planter is disclosed. The system may generally include a seed meter configured to dispense seeds into a furrow at a seed frequency and a nozzle assembly configured to spray the seeds dispensed into the furrow. The nozzle assembly may include a valve. In addition, the system may include a controller communicatively coupled to the valve. The controller may be configured to determine the seed frequency of the seed meter based on a speed-related parameter of the planter. The controller may also be configured to control the operation of the valve based on the seed frequency such that a metered amount of fluid is sprayed at least one of on or adjacent to each seed.