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.”
“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)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews