Shopper analytics firm Euclid has secured $17.3 million in Series B funding led by Benchmark Capital.
The latest round brings the total amount raised to more than $23.6 million. Other investors include New Enterprise Associates, Harrison Metal, Novel TMT Ventures and angel investor Michael Calbert, head of the retail industry team at private equity firm KKR.
Will Smith, cofounder and chief executive officer of Euclid, said the firm, founded three years ago, received a seed round of $500,000 from Calbert. That was followed by a Series A round in which the firm raised $5.8 million.
Euclid said it will use the funding from the latest round to expand the engineering team and add enhancements to its analytics platform.
The platform allows brick- and-mortar retailers to measure retail performance, using data captured from an existing Wi-Fi infrastructure or Euclid’s plug-and-play sensors. Euclid is to the physical retail world what Google Analytics is to the online channel. Euclid’s clients include the top 100 retailers in the specialty apparel and department store channels, and the platform measures more than 50 million mobile devices, according to the company.
Patrick Chung, who coheads NEA’s seed-stage investing group, explained that his firm has $13 billion under management and $2.5 billion in its current fund. He emphasized that his firm can only invest in startups that have the potential for a huge return on the investment. In the case of Euclid, Chung said, “Brick and mortar has not changed since the beginning of time. On the Internet, you can tell how long before a user will return to the site and how much [he/she] will like a similar site. In retail brick and mortar [operations], they have no clue whatsoever.”
According to Chung, Euclid’s platform allows physical storefronts to understand quickly how often there are repeat visits, how long consumers stay in the stores and what is the conversion rate to get them back into the stores.
Smith, whose grandfather founded the International Council of Shopping Centers, said, “Great retail experiences [require] a deep understanding of what’s happening inside your stores. Euclid’s real-world insights help retailers identify the most effective ways to attract and engage shoppers.”
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)