Euclid Secures $17.3M in Series B Funding Led by Benchmark Capital to Bring Real-World Shopper Analytics to Top Retailers
Retail analytics pioneer measures over 50 million mobile devices to deliver breakthrough shopper insights
PALO ALTO, Calif., February 21, 2013-- Euclid, the leader in real-world shopper analytics, has closed a $17.3M million financing to better serve its rapidly growing customer base. The round is led by Benchmark Capital with participation from NEA, Harrison Metal, and Novel TMT Ventures. The company is also announcing the addition of Bruce Dunlevie, general partner at Benchmark Capital, to its board of directors.
Often described as Google Analytics for the physical world, Euclid provides brick-and-mortar retailers with unprecedented visibility into shopper traffic, engagement, and loyalty. Retailers use Euclid insights to measure marketing campaign performance, optimize their operations, and create more compelling in-store experiences.
Euclid’s clients include Top 100 retailers in the specialty apparel, department store, auto parts, and home improvement categories. The company now measures more than 50 million mobile devices—about twice the population of Texas. Euclid Analytics can be rolled out quickly and easily across an entire retail chain using plug-and-play sensors or existing Wi-Fi infrastructure from Aruba Networks, Aerohive Networks, and other leading providers.
“Great retail experiences don’t happen by accident,” said Euclid co-founder and CEO Will Smith. “It requires a deep understanding of what’s happening inside your stores. Euclid’s real-world insights reveal the most effective ways to attract and engage your shoppers.”
“Euclid is the new standard for measuring retail performance,” said Bruce Dunlevie, Benchmark general partner and new Euclid board member. “Physical retailers finally have an easy-to-implement, scalable solution for determining the effectiveness of their marketing and operations.”
Euclid delivers actionable shopper insights to brick-and-mortar retailers—think Google Analytics for offline retail. Providing real-world metrics like Engagement Rate, Visit Duration, and Visit Frequency, Euclid helps retailers optimize the performance of their marketing, merchandising, and operations. With simple setup and an easy-to-use web dashboard, national chains and local boutiques alike can boost traffic, engagement, loyalty, and revenue. Built on a commitment to protecting individual privacy, Euclid’s technology provides only aggregated, anonymous insights. Euclid is redefining retail decision-making, from the stockroom to the boardroom. For more information, visit euclidanalytics.com.
About Benchmark Capital
Benchmark Capital, a leading international venture capital firm, was founded in 1995 to help talented entrepreneurs with original ideas build successful technology companies. Benchmark’s portfolio includes high-profile startups like Twitter, Yelp, OpenTable, and Zillow, and franchise companies such as eBay, Juniper Networks, and Red Hat. The firm manages nearly $2.8 billion in committed venture capital. For more information, visit @benchmark on Twitter.
About New Enterprise Associates
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 175 portfolio company IPOs and more than 290 acquisitions. In the U.S., NEA has offices in Menlo Park, CA; New York, NY; and the Washington, D.C. metropolitan area. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India, and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.
About Harrison Metal
Harrison Metal is a seed-stage venture capital partnership founded by Michael Dearing and based in Palo Alto, CA. The firm focuses on software and services for consumers, developers and businesses. Harrison Metal’s investments include AdMob, Heroku, Aardvark, PopCap, Mixer Labs, GigWalk, Euclid, ModCloth, and ConsultingMD. www.harrisonmetal.com
About Novel TMT Ventures
Novel TMT is the global technology & media investment firm of Hong Kong based Novel Group. The firm focuses on investing in innovative products and services to improve consumer experiences and efficiencies in commerce, media and payment. Novel TMT’s investments include Warby Parker, Moda Operandi, Dailylook, Context Logic, Playspan, Facebook, Delivery Hero, and Skrill.
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