Video Analytics Startup Prism Skylabs Raises $15 Million in Series B Funding
Prism Skylabs, a video analytics startup, has announced that it has secured $15 million in Series B funding. This latest round of investment brings the company’s total funding to date to an impressive amount. The new funding was led by Intel Capital, with participation from Presidio Ventures, Triangle Peak, Data Collective, and Expa.
Background on Prism Skylabs
Prism Skylabs launched at TechCrunch Disrupt in 2011, co-founded by Ron Palmeri, who is also the co-founder of MkII Ventures and Layer. At the time, Layer took home the top prize at the most recent Disrupt event. Prism Skylabs’ innovative approach to video analytics has garnered significant attention in the industry.
How Prism Skylabs Works
The company’s proprietary technology enables businesses to leverage existing security cameras to gain valuable insights into customer behavior. By analyzing footage from these cameras, Prism Skylabs provides retailers and other organizations with web-style analytics that can be used to inform strategic decisions.
Some of the key features offered by Prism Skylabs include:
- Footpath Analysis: Prism Skylabs’ technology can create graphics showing footpaths through a store, providing valuable insights into customer flow and movement.
- Heat Maps: The company’s heat maps offer a visual representation of areas where customers are most interested in products or displays.
- Customer Counts and Conversion: Prism Skylabs provides real-time data on customer counts and conversion rates, enabling businesses to optimize their operations.
Traction and Growth
Prism Skylabs has reportedly worked with over 80 customers to date. The company’s innovative approach to video analytics has clearly resonated with the market, demonstrating its potential for growth and scalability.
Investor Interest
The new funding round was led by Intel Capital, a well-established player in the venture capital industry. Participating investors also included Presidio Ventures, Triangle Peak, Data Collective, and Expa. This influx of investment is expected to fuel Prism Skylabs’ continued growth and expansion into new markets.
Previous Funding Rounds
This latest funding round follows on from Prism Skylabs’ $7.5 million Series A raise. Past investors in the company include CrunchFund, which was founded by Michael Arrington, a well-known entrepreneur and investor.
Conclusion
Prism Skylabs’ innovative approach to video analytics has garnered significant attention in the industry, with over 80 customers already on board. The new funding round brings much-needed capital to fuel the company’s continued growth and expansion into new markets. With a strong track record of innovation and customer adoption, Prism Skylabs is poised for continued success.
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