Euclid Elements Raises $17.3 Million to Become the ‘Google Analytics of the Real World’

 
 
 

 Euclid Elements – which produces in-store customer tracking sensors – has raised $17.3 million in a second funding round led by Benchmark Capital, and also including NEA, Harrison Metal and Novel TMT Ventures. According to VentureBeat, Euclid is founded by the same guys who founded Urchin, which was acquired by Google and ultimately became Google Analytics.

The product is essentially a sensor – easily installed – which detects Wi-Fi connections on individual customer’s phones, both inside and outside the store. The connections are then analyzed – monitoring the customer “dwell time,” window conversions, etc. — and tracked so that the sensor can determine “repeat” customers. The data leads to actionable measurements for store owners – much the same way Google Analytics can help web publishers analyze their traffic trends.

Euclid’s founders emphasize that the data is not linked to, and is completely anonymous. The technology, of course, is useless if no customer in the store carries a web-enabled smartphone, but that doesn’t seem to be of issue at the moment in San Francisco. Philz Coffee – a Bay Area java shop – was the first technology to use the company in 2011, and the sensors have since been implemented in over 30 brick-and-mortar locations.