Retail Data Demand Drives Kepler’s $22 Million Boost
Brick-and-mortar retail analytics company Kepler Analytics has just close a $22 million funding round, led by VC fund OneVentures.
Kepler uses radio sensors to gather anonymous data on shopper behaviour, including how many customers walk past, how many enter, linger time, and what was purchased.
“We pioneered the concept of in-store sensor technology being invisible by design – technology that doesn’t get in the way of the customer experience or your team’s workflow,” Kepler’s website explains.
“Having full control over the technology has enabled us to implement customer behaviour tracking in any retail environment previously considered too challenging, including pop-up booths and large format stores with high shelves.”
The company currently services 5,500 stores.
“We measure the journey in a physical store environment, just like you can in e-commerce,” co-founder David Mah told the AFR.
Kepler launched in Melbourne in 2015. The recent lockdowns posed a huge challenge, but as retail opened back up, a new data-based focus came into play for brick-and-mortar retailers, who were looking for a similar level of shopper data as digital stores provide.
“In the first few months, revenue took a big hit,” Mah said.
“It was a very scary time, really uncertain, but within a few months, revenue bounced back really quickly, and we doubled year-on-year, and we’re on track to double again. Retailers are now really refocusing on the importance of their stores, and data is so critical in this new world of uncertainty.”