Prism Skylabs Announces $15M Series B Led by Intel Capital
Funding to drive growth and product development
SAN FRANCISCO, CA — October 22, 2013
Prism Skylabs, the global leader in visually understanding and optimizing offline commerce, today announced its Series B Funding Round led by Intel Capital. The round also includes investments from Presidio Ventures, Triangle Peak, Data Collective and Expa.
“Prism Skylabs is poised to make a real difference at a critical time for brick-and-mortar business,” said Prism Skylabs Founder and CEO Steve Russell. “This round will allow us to expand on our early success and drive continued adoption.”
Following its 2011 launch and Series A in 2012, the unique cloud service has grown rapidly, with more than 80 customers ranging from Fortune 500 retailers and consumer packaged goods companies to malls and convenience stores around the globe. These companies use Prism Skylabs to bring Web-style analytics to their brick-and-mortar stores, and provide remote access when they would otherwise need to go to the store.
Prism Skylabs transforms any in-store video camera into a visual merchandising, auditing and business intelligence tool that can be accessed from any device. It brings the full in-store environment to retailers’ mobile devices and laptops, empowering employees with:
- Real-time, mobile access to enhanced images of any product, display or store
- On-demand, privacy-protected visual summaries of customer paths and product interaction
- Any-camera people counting and conversion measurement
- Easy-to-understand activity reports that identify outliers, patterns and trends
“Prism Skylabs provides actionable insight on consumer behavior — where people go in the store and how they interact with products,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. “This intelligence is being used by businesses worldwide — from corner convenience stores to the world’s largest retailers — to build and maintain the ideal experience for their customers.”
This funding announcement was made by Intel Capital President Arvind Sodhani at the Intel Capital Global Summit in San Diego on Tuesday, October 22.