EyeTrackShop, an online eye tracking technology developer, has closed its first round of funding of $3 million. Northzone is lead investor in the round. EyeTrackShop has offices in New York, San Francisco, Stockholm and Shanghai.
EyeTrackShop, the leading online eye tracking technology developer, announced today that it has closed its first institutional round of funding of $3 million to speed up international expansion with Northzone as lead investor.
EyeTrackShop has rapidly established market presence in the US and Northern Europe as the leading digital platform for ad effectiveness, providing valuable insights into visual performance of advertising and websites. Its unique technology enables the capturing of eye movements from a regular webcam which allows market researchers to conduct online visual effectiveness tests in a fast and inexpensive manner. EyeTrackShop’s fast expanding client base already includes companies like Google, P&G, AOL, Microsoft and JCDeacaux.
As EyeTrackShop extends its presence in both its existing and new markets, the funding will allow the company to accelerate its business development and global expansion whilst further investing in product innovation.
“Being able to measure instantly what and how you look at an advertisement is well on the way to become a must-have in a world of ever increasing competition for attention. EyeTrackShop is the global leader and we are thrilled to be backing them”, comments Jeppe Zink, General Partner at Northzone.
“We are excited to have a partner like Northzone and tap into their wealth of experience in building global leaders like Spotify and EpiServer. We will be able to speed up our international expansion and invest further in our unique technology”, says Mathias Plank Founder & CEO of EyeTrackShop.
EyeTrackShop was spun out of the world leading eye tracking company, Tobii Technologies, in 2010. EyeTrackShop has developed a software-only platform using regular webcams to collect eye tracking data from consenting online users when they are browsing the Internet. EyeTrackShop offers media owners, brand owners, agencies and others to measure the effectiveness of their ad campaigns and improve their communication. EyeTrackShop was recently awarded the Great Minds Award for Innovation from the Advertising Research Foundation in NY. EyeTrackShop has offices in New York, San Francisco, Stockholm and Shanghai.
Northzone was established in 1996 and has offices in London, Copenhagen, Oslo, and Stockholm. Since its inception Northzone has raised over $500 million, invested in some 75 companies. Notable investments include Spotify, Avito, Lastminute.com, Pricerunner, Nimsoft and EPiServer.