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Walkbase Raises Funds for In-Store Analytics

November 15 2013

Helsinki-based in-store behaviour analyst Walkbase has raised EUR 3m in a Series A round of funding, which it will use to strengthen its sales, marketing and customer insights teams.

Tuomas WuotWalkbase provides retailers with small sensor boxes which capture the signals transmitted from any WiFi-enabled devices customers carry with them. Resulting location data can then be used by retailers to understand customer movement patterns, dwell time, footfall trends and visit duration, and consequently drive store traffic and purchases and optimize store layouts and advertisements.

New funding has been led by SBT Venture Capital, with support from Olli-Pekka Kallasvuo, former CEO of Nokia, who joins Walkbase's advisory board.

CEO and co-founder Tuomas Wuot (pictured) comments: 'Even though online buying is steadily growing, 92% of retail sales still take place in physical stores. In online stores, everything can be optimised in real-time for the best possible shopping experience. Thanks to new technology, this ability is now spreading to offline retail.'

Walkbase is currently evaluating opportunities to start additional pilots with a number of high street retail chains in the UK.

Web site: www.walkbase.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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