NEWS17 October 2012

Prism SkyLabs gets $7.5m for retail analytics

Financials North America

US— Retail analytics and video surveillance start-up Prism SkyLabs has raised $7.5m in series A funding from a large group of investors.

The firm, which was launched last year, uses data from existing video surveillance cameras in shops to unlock information on customer patterns, trends and behaviours.

Businesses can download free, cloud-based software to use surveillance cameras to pick up on data such as how customers move around their shops.

The second phase of the Prism service is an analytics offering that provides summaries of customers’ activity, behaviour and movement.

Gordon Rubinstein, co-founder at Pacific Partners – one of the investors – said: “Prism SkyLabs is exactly what brick-and-mortar retailers have been looking for. It’s a simple and scalable way to 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.”