Euclid:euclidanalytics.com/, a Palo Alto start-up company that specializes in real-world shopper analytics for retail has secured a Series B round of funding led by Benchmark Capital with participation from NEA, Harrison Metal, and Novel TMT Ventures.
This rounds adds to the $5.8 million Series A which was led by New Enterprise Associates with Harrison Metal, Triple Point Capital and other investors.
The company has also announced the addition of Bruce Dunlevie, general partner at Benchmark Capital, to its board of directors.
Measuring more than 50 million mobile devices
The company said it now measures more than 50 million mobile devices. Euclid has customers in specialty apparel, department store, auto parts, and home improvement categories.
The start-up is using Wi-Fi signals on consumer smartphones to map shopper traffic patterns in retail spaces and aggregate this data to provide actionable information to store marketers. The system provides metrics such as the percentage of people that enter the store compared to walkbys, the visit duration, the visit frequency, etc.
The system can be self-installed using plug and play adhoc Wi-Fi sensors or rely on the existing infrastructure of Wi-Fi network vendors such as Aerohive Networks, Aruba Networks, Fortinet and Xirrus.