Venture Capital News: Prism Skylabs Raises $7.5M Series A
SAN FRANCISCO, CA, Company helping retail organizations extract invaluable intelligence about activity within their physical stores, today announced that it has closed a $7.5 million Series A funding.
Prism Skylabs, the company helping retail organizations extract invaluable intelligence about activity within their physical stores, today announced that it has closed a $7.5 million Series A funding round led by new investors Triangle Peak Partners and Pacific Partners, and joined by Andreessen Horowitz, IDG Ventures, Anthem Venture Partners, Eagle, MkII Ventures, SeriesG and Data Collective. As part of the round, Pacific Partners Co-Founder Gordon Rubenstein will join Prism Skylabs' Board of Directors as Pacific and Triangle's representative.
"This is an important milestone for the company, and we could not be more excited to welcome such a strong group of investors," said Prism Skylabs CEO and Founder Steve Russell.
Founded in 2011, Prism Skylabs unique cloud service leverages existing video cameras to unlock once-hidden customer patterns, trends and behaviors. With a simple download, Prism Skylabs helps retailers increase ROI and optimize marketing, merchandising and operations by providing:
Remote, real-time business visibility that offers a global view into store performance and illustrates key areas for improvement.
Customer and product-lift heatmaps that highlight high-traffic areas inside stores.
Dynamic summaries of customer activity, behavior and movement that provide never-before-available insight into what is working, and what is not-in real time.
"Prism Skylabs is exactly what brick-and-mortar retailers have been looking for," said Pacific Partners Co-Founder Gordon Rubenstein. "It's a simple and scalable way to understand product lift and customer movement across thousands of sites, and to gain immediate, mobile access to views of any shelf, display or store."
Prism Skylabs is used by some of the world's largest retailers to gain unprecedented insight into their business. It is currently available by invitation only, with wider availability expected to launch in November.
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