The social network, with 60 million daily users, plans to begin selling sunglasses with a built-in camera for $129.99.
Highlights increasing momentum in facial monitoring via webcams to improve advertising. Investment to go towards relocation from Boston to New York and quadruple sales force.
London, 25 March, 2012 – Emotion measurement technology company, Realeyes, today announces it has completed a $3.2m A-round investment by Entrepreneurs Fund and SmartCap. This brings the total financing raised by Realeyes, whose US base is currently Boston, to over $4.6 million.
Dubbed “The Google of Emotions”, Realeyes measures facial expressions and quantifies people’s emotional reactions through standard video devices, such as webcams and in-store cameras. Realeyes analytics platform has been used by the world’s leading research firms including Nielsen, Ipsos and Toluna to improve ad campaigns for more than 30 brands near the top of the Fortune 500.
The fastest-growing area for Realeyes is social video, around which the next product launches will soon take place. The $3.2 million investment enables Realeyes to advance its technology platform towards ‘Big Data’ applications as the company moves beyond panel-based testing to gather emotional feedback from social media, mobile apps and in-store situations. Realeyes will also quadruple its sales force internationally and move its US offices from Boston to New York.
Mihkel Jäätma, Realeyes CEO: “Emotion measurement solves the key problem in research – to provide true subconscious feedback. Scientists have shown over 90% of human behaviour and decision making is driven by the subconscious; yet over 90% of current research and feedback is based on conscious self-reporting.
This massive imbalance is dissipating as it’s now easier to record emotions via webcams than having people fill in surveys.”
Andrus Oks, Investment Manager at SmartCap, says of the deal: “Realeyes represents the next generation of research beyond surveys, interviews and focus groups; helping brands connect with people better than legacy methods. The fundamental predictive power of emotional response is setting the stage for a serious disruption in the behavioural analytics space in general.
This ability to ‘see around the corner’ and the fact this technology is also changing the face of education, games and measuring in-store behaviour made Realeyes a very exciting and attractive investment opportunity.”
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For more information contact:
Wes Rogers, Realeyes US Media Relations
D: +1 404 969 6849 M: +1 912 506 0869 E: email@example.com
Realeyes is a technology company that uses computer vision to read faces and measure human emotion. Realeyes emotions platform provides a world leading solution for collecting and analysing facial response data of millions of consumers. The company’s goal is to help clients to get better results from their communications by providing accurate and actionable engagement metrics that traditional methods can’t deliver. Clients include leading publishers, advertising agencies, research firms and numerous Fortune 500 brands. www.realeyesit.com
About Entrepreneurs Fund
Entrepreneurs Fund is the venture capital member of COFRA, a global, family-controlled group of businesses. Entrepreneurs Fund is currently investing from its second €100 million fund, which is targeted at early stage and growth companies owning strong technology/IP, with a focus on Europe. http://www.entrepreneursfund.com
About SmartCap ASSmartCap is an early-stage venture fund with a broad technology focus. SmartCap has the largest portfolio of Estonian startups. www.smartcap.ee