Euclid as a Venture Investment

Website: http://euclidanalytics.com/

Author: Debabrata Padhy

Euclid provides integrated data capture and analytics platform for the Retail industry. The company provides analytics to take in-store data and turn it into insights for retail merchandising, marketing and operations. With growing competition from the ecommerce retailers the physical retail stores and chains are making a drive towards understanding in-store customer behavior and patters which can be used to enhance layout of the store and market the right products to the customer.

The company can provide Plug and play sensors or use the existing Wi-Fi infrastructure to collect data by tapping into the cell phone signals of customers in and around the sensors. Euclid the transforms the data and follows a fermium model with two plans for viewing the analytics data, the Express and Advanced. With the first plan the company aims to acquire more customers and enable trial of the product. The solutions provide varied level of Analytics and answer questions such as

  • Outside opportunity, storefront conversion, visits, visit duration, engagement, bounce, new vs. repeats and more (see References)
  • Measure marketing ROI, optimize store performance, and improve experience for specialty retail, QSR & coffee, large format and more
  • Measure marketing ROI, optimize store performance, and improve experience for specialty retail, QSR & coffee, large format and more

What makes Euclid really interesting is it’s a Google analytics like solution of the physical retail store and nearly 30 apparel chains, restaurants and shopping malls have signed up for the solution. They provide a solution which does not have any hardware installation cost. The Fermium solution and the ease of use and installation make Euclid a very attractive product for the retail industry. The team has also raised two rounds of funding and are using the investment to provide additional value to their SaaS customers.

The company seems to have a the right management team who are focused on the right strategy of first letting the customer try the product and then provide a complicated solution to the market as a SaaS solution. The product development teams has done a fantastic work so far by not only building a plug and play sensors but also integrating with Wi-Fi network providers to gather secure and anonymous customer data.

The Marketing and sales team has also focused on the right approach by starting small with local shops around the company’s base in the Bay area and now they have quickly expanded to larger national chains.

Based on the market, product and the management team I would recommend Euclid for further venture capital funding.

References:

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