Retail analytics SaaS (software as a service) platform, Kepler Analytics has announced a new $22 million Series B funding round. Sydney-based OneVentures led the capital raise through its 1V Growth Fund V, with participation from Whiteoak, Taronga Ventures, and Shearwater Capital, as well as existing investors Reinventure and InterValley Ventures.
Melbourne-based Kepler Analytics measures shopper traffic and behaviour in the retail environment, using analytics software to provide actionable insights on stock arrangement to increase conversion.
With shoppers returning to bricks-and-mortar stores, retailers have realised a need to bring data-driven insights they derive from their ecommerce operations into store. Being able to capture the customer journey within a physical store was seen as an untapped opportunity to not only optimise retail layout and promotions, but to enhance the customer experience and interaction with staff and merchandise.
Where most in-store analytics solutions are based on intrusive camera technology, Kepler’s proprietary radio energy density sensors gathers shopper traffic and behaviour data by measuring the motion of mobile devices through the retail environment. This approach means that customers are not individually identifiable.
Kepler is currently servicing over 5,500 stores across 24 countries from small local shops to large enterprise retailers including Aēsop, Hanes Group, Officeworks, Hudsons Bay and Pandora.
“Our mission is to support retail businesses that want to increase sales, reduce costs and create a better experience for their customers,” Kepler CEO David Gordon said.
“Our easy-to-install technology enables retailers to do this by bringing the kinds of insights they expect from their ecommerce operations in-store. With the backing of OneVentures, we plan to establish our technology as the benchmark for in-store retail success.”
Kepler plans to use the capital for key hires, roll out new product features and fuel global expansion, as a result of significantly increased customer demand in North America, Europe and Asia.