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Sunday, 20 April 2014

Innerscope closes final $2m tranche of series A funding

US— Biometric measurement firm Innerscope has closed the final $2m tranche of a $9.4m series A financing round, which dates back three years.

The company says it has more than doubled its revenue in the last two years, but declined to reveal figures. It said its core business is “self-sustaining” and CEO Carl Marci told Research there was an 80% probability a client would go on to do a second project with the company.

Innerscope uses “neuroscience-informed biometrics” to measure emotional response to media and marketing stimuli. A biometric belt worn by respondents collects data on heart rate, skin conductance, respiration and motion. Marci (pictured) explained that each of these channels relates to “networks of neurons in the emotional centres of the brain” which when stimulated, trigger responses in the autonomic nervous system, which the biometric belt can measure.

Earlier this year, the company agreed a deal to add biometric measurement to some of the Ipsos Group’s best-known ad testing products.

Innerscope says it will use the new financing to develop a “more scalable platform that will help it improve geographic representation, reduce turnaround time and accelerate its expansion in the US and abroad”, though specific details are under wraps for now.

The firm’s fortunes are in stark contrast to that of EmSense, a rival in the field of emotional measurement. As reported yesterday, EmSense’s future is uncertain, with chief analytics officer Elissa Moses saying the firm is “undergoing a sales process”.

Marci said he had not ruled out discussions with EmSense, but a deal to acquire any of the company’s assets involving Innerscope was very unlikely. EmSense makes the EmBand tool for monitoring brain activity.

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