News

Data analytics start-up receives $5.8M investment

November 3, 2011

Euclid Elements' data analytics platform is now publically available to retailers and merchants at euclidelements.com.

The company also announced completion of a $5.8 million investment led by New Enterprise Associates with Harrison Metal, Triple Point Capital and other investors.

Euclid's public launch signals the further migration of actionable customer analytics from the Web to the physical world of retail, according to CEO Will Smith, who co-founded the company with Scott Crosby, the co-founder of the original Urchin team acquired by Google in April 2005 that eventually became Google Analytics.

Euclid offers a customizable "real world" analytics platform that empowers bricks and mortar merchants to better understand their customers' shopping experience in much the same way as online retailers understand their website visits, Smith said in a press release.

"To put it simply, we're Google Analytics for the physical world," he said. "Online retailers have been using data to improve their customers' shopping experience for years. With Euclid, major retailers and downtown storefronts are now able to leverage in-store customer data to better compete with the online world through improved customer satisfaction and loyalty."

Euclid is also using sensors to map shopper traffic patterns in retail spaces. These sensors sense Wi-Fi signals on smart phones, allowing retailers to understand how shoppers move through a physical shopping environment. No personal shopper data is collected; data shared with clients is anonymous and aggregated, providing a big picture view that allows retailers to make better decisions about store layouts, merchandising, staffing and other aspects of the in-store experience, according to the press release.

"Euclid has opened my eyes to the opportunities we have as a retail operation -- the power to measure is the power to intelligently improve," Jacob Jaber, president of San Francisco-based Philz Coffee, said in the release. "We have been consistently voted best coffee in San Francisco, and with the unique insights into customer loyalty and frequency we get from Euclid, we'll continue to satisfy our customers."

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