Euclid Analytics, the leader in location analytics, today announced it has closed a $20 million Series C funding round, led by Cox Enterprises. Participation in the round includes new investors Groupe Arnault, the controlling shareholder of LVMH - Moet Hennessy Louis Vuitton, the world leader in luxury products, and Gold Sky Capital. The round is joined by existing investors Benchmark Capital, NEA and Harrison Metal. With the new funding, Euclid Analytics will build upon its rapid growth and tap the tremendous market demand for omni-channel solutions that understand customer behavior across online and offline channels. Since its founding in 2010, Euclid has raised $44 million.
Today, every business with a physical presence wants to understand their digitally-connected customer. With 94 percent of transactions taking place within stores and 84 percent of purchases influenced by mobile, retailers must maximize their physical store presence and enhance the customer experience from transactional to experiential. Building upon its core location analytics platform, Euclid is extending its solution to provide a holistic view of the customer across online and offline channels, which helps brands deliver more streamlined, personalized experiences in their physical stores.
'Cox Enterprises, Groupe Arnault and Gold Sky add to Euclid's high caliber of investors and strategic partners,' said Brent Franson, CEO of Euclid Analytics. 'As Euclid continues to lead the digital transformation within brick-and-mortar, our deep understanding of the physical world is helping businesses gain a single view of their omni-channel customer and deliver the best in-store experience. With this new funding, we will continue to build the world's leading location analytics platform -- all leveraging the ubiquity of Wi-Fi, and without the need to install any new hardware.'
'Technology is transforming how the world buys and sells products across all industries, and as a company that provides broadband communications, Cox understands the importance of Wi-Fi,' said Duncan O'Brien, Cox Enterprises' senior vice president and general manager of corporate strategy and investments. 'With its extensive technology, Wi-Fi and data science expertise, Euclid is positioned to bridge the gap across the online and offline worlds in this new digitally-connected era of retail.'
Retailers, quick service restaurants (QSRs), shopping malls, retail banks, and transportation hubs currently use Euclid to analyze customer behavior in physical locations and its impact on business outcomes. Requiring no new hardware, Euclid Analytics works with every major Wi-Fi vendor and can be rapidly deployed across existing Wi-Fi systems from Aerohive, Cisco, HP/Aruba, Meraki, Ruckus and Xirrus. Since 2013, Euclid has quickly expanded to serve over 500 brands in 65 countries across tens of thousands of locations. The Euclid cloud solution analyzes over 10 billion daily events and 300 million shopping sessions yearly.
'Euclid is at the forefront of worldwide in-store location analytics and is addressing a multi-trillion dollar challenge for some of the largest global brands,' said Rick Yang, Partner at NEA. 'By transforming brick-and-mortar businesses, Euclid has grown its digital footprint 25 times year-over-year. Euclid is a true pioneer in the space, and we continue to be impressed by what they've accomplished in such a short period of time.'
Euclid's investors represent a combination of top-tier digital media, luxury retail and Silicon Valley venture capital, further positioning the company as a disruptive force in the Wi-Fi and analytics markets. Cox Enterprises is a leading communications, media and automotive services company. As part of today's announcement, Euclid is naming Duncan O'Brien, Cox Enterprises' senior vice president and general manager of corporate strategy and investments, to the company's board of directors.
Gold Sky Capital is a technology investment group backed by a strategic network of senior operating executives and family offices.
'My experience and background in retail and Wi-Fi aligns with Euclid's vision of how brick-and-mortar businesses will transform themselves,' said Charles Carmel, Managing Partner of Gold Sky Capital. 'Bringing data into the physical world presents a massive global opportunity and I am excited to be a part of it.'
'We are excited about Euclid,' said Bruce Dunlevie, Managing Partner at Benchmark Capital. 'Since our initial investment, Euclid has built a top-tier team that has consistently delivered growth at a rapid pace. The overwhelming interest in this financing underscores Euclid's market leadership position and the massive problem it is solving.'
To learn more about the Euclid Analytics solution, team and investors, please visit http://www.euclidanalytics.com/.
About Euclid
Euclid Analytics is the world leader in location analytics. Over 500 brands across retail, banks, quick service restaurants, airports and shopping malls are using Euclid to understand customer behavior in their physical locations to optimize marketing, operations and staffing. Affordable and requiring no new hardware, Euclid is easy to deploy on leading Wi-Fi systems in less than 48 hours. Euclid's growing network captures billions of measurements per day across 65 countries and tens of thousands of locations, analyzing hundreds of millions of physical customer touch points per year.