The round was led by early-stage venture capital firms Startup Capital Ventures and Quest Venture Partners Other early-stage investors, including Seraph Group, Social Starts and previous angel investors, also joined the round. The new capital will allow the company to rapidly expand the reach of its consumers, on-board national retailers, and add key members to its executive team.
AreaMetrics is a customer intelligence platform that helps retailers generate more revenue by understanding customer interests, preferences, and patterns of shopping. The AreaMetrics solution allows traders to easily derive actionable insights from a wealth of previously untapped data, to unlock valuable knowledge of the success of their marketing and advertising campaigns – leading to better business decisions and increased revenue.
‘Big-box retailers that partner with AreaMetrics have a strong advantage over their competition. This funding enables us to further improve the efficiency and strength of our offering as we work to empower our customers with state-of-the-art technology and excellent service,” said Brandon Bennett, Co-Founder and CEO of AreaMetrics.
‘The market for retail analytics is growing and will continue to grow as new technologies transform the business landscape of brick and mortar. Our investment in AreaMetrics reflects our belief in the founding team, their ability to build a unique product using an equally unique approach, and their vision to help retailers engage customers meaningfully,” said Donavan Kealoha of Startup Capital Ventures. Kealoha joined the Board of Directors of AreaMetrics in January 2016.
AreaMetrics was founded in 2014 in Honolulu, Hawaii, where the team was part of the Blue Startup accelerator. In January 2016, the company moved to Seattle, Washington, to benefit from a wealth of talent, a booming start-up ecosystem and access to business development partners. AreaMetrics is located in WeWork, Westlake Tower, one of Seattle’s innovative co-working spaces.
‘We are impressed by the privacy-sensitive yet scalable approach that AreaMetrics has taken to collecting consumer retail behavior,’ said Maarten Hooft of Quest Venture Partners. ‘We believe that analytical data is the next must-have for retailers and that AreaMetrics is the leading solution in this valuable category. ”
Shopping malls and retailers use AreaMetrics to gain insight into customer demographics and shopping patterns. AreaMetrics recognizes customer behavior through the use of Bluetooth Low Energy (BLE) technologies and a large community of mobile partners. Large retailers and restaurants leverage AreaMetrics insights into A/B marketing campaigns, generate traffic, and increase sales AreaMetrics has offices in the center of Seattle. Visit Area Metrics to learn more Come on,
About Start-up Capital Ventures
Startup Capital Ventures invests in early-stage, B2B technology companies that require relatively small amounts of capital to succeed. Startup Capital Ventures’ geographic focus is Silicon Valley, along with selective investment in Hawaii and elsewhere.
About the Quest Venture Partner
Quest Venture Partners is a Palo Alto-based venture capital firm focused on helping exceptional founders in early-stage companies.
View the source version of the businesswire Com: http://www: Business wires Com/news/home/20160307006617/in/
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