The business has also won the support of venture capital firms New Enterprise Associates, Harrison Metal, and Novel TMT Ventures, which all participated in the fundraising round.
Euclid’s technology provides retailers with information about shopper traffic, engagement and loyalty, helping them measure marketing campaign performance and optimize their operations.
Some of its clients include Top 100 retailers in the specialty apparel, department store, auto parts, and home improvement sectors.
Euclid says its technology can be rolled out quickly and easily across an entire retail chain using plug-and-play sensors or existing Wi-Fi infrastructure. It now measures more than 50 million mobile devices.
Bruce Dunlevie, Benchmark general partner, who is set to join Euclid’s board said, “Euclid is the new standard for measuring retail performance.
“Physical retailers finally have an easy-to-implement, scalable solution for determining the effectiveness of their marketing and operations.”
Benchmark’s portfolio includes companies such as Twitter, Yelp, OpenTable, Zillow, eBay, Juniper Networks, and Red Hat.
It currently manages nearly $2.8bn in committed venture capital.
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