Dive Summary:
- Euclid, a shopper analytics platform for brick-and-mortar retailers, announced Thursday that it raised $17.3 million, to be used for scaling its service and meeting its growing client base's demands, during a funding round led by Benchmark Capital with NEA, Harrison Metal and TMT Ventures.
- The startup launched in 2011 and has been dubbed the "Google Analytics for brick-and-mortar stores," using its technology to provide metrics for retailers in industries including auto parts, home improvement and apparel.
- Euclid's director of marketing, John Fu, told BetaKit that the company's goal is to help brick-and-mortar retailers understand how effective their marketing, in-store operations, staffing and in-store placement are.
From the article:
... The company enables retailers to measure activity in and around their store in a manner that’s a little different from what they’re used to with door clickers or cameras to count how many customers walk in and out each day. Instead Euclid detects a customer’s Wifi-enabled smartphone, and collects the phone’s MAC address (not tied to any personal information), and stores it on its servers, allowing clients to access a dashboard similar to what they would expect from Google Analytics. ...
