AreaMetrics receives $2 million from seed funding round

March 9
6:16 AM 2016

AreaMetrics, a provider of business tools for motor and brick retailers, has completed a seed funding round of $2 million. The investment round was headed by venture capital companies like Quest Venture Partners and Startup Capital Ventures. Other start-up investors like Seraph Group, former angel investors and social Starts participated in the capital funding round.

The fund will be used to widen the company's customer base and expand management team. With the help of AreaMetrics, vendors can easily understand their customers' need and shopping module and improve their revenue growth. Retailers receive easy access to a wide range of database, with which they can track customer's shopping trend, enrich their marketing strategies, make good business decisions - leading to high revenue.

Brandon Bennett, chief executive officer and co-founder of AreaMetrics, said that this new funding will help the company to strengthen its business portfolio and also enable it to provide better service to its customers. Merchants with AreaMetrics platform have more advantage than their peers in the industry. According to Startup Capital Ventures' Donavan Kealoha, the analytics platform for retail market is rapidly increasing with fresh technologies bringing a change in motor and brick businesses. This new investment signifies Startup Capital Ventures' trust in the executive team of AreaMetrics.

Similarly, Exo, designer of protein bars, received a funding amount of $4 million in Series A funding round headed by AccelFoods. Other investors like Start Garden, Collaborative Fund, Amelia Boone, Tim Ferriss and Nas took part in the funding round. In addition, Property Partner, a London-based crowdfunding platform, announced the closure of roughly $22.4 million financing round headed by Octopus Ventures.

NexWafe, a designer of wafers based in Germany, also raised a funding amount of $6.6 million in Series A round headed by Lynwood AG. Other venture capital financing gainers are United Wind, Culture Amp, Zaloni, The Floor, and Staff Finder, as reported by vatornews.

Quest Venture Partners' Maarten Hooft appreciate the analytics data collected by AreaMetrics that are highly confidential with regard to privacy and other related aspects. Maarten added, "We believe analytical data is the next must-have for retailers, and that AreaMetrics is the premier solution for this valuable category."

AreaMetrics very recently shifted its headquarters to Seattle as Hawaii lacked tech atmosphere and commercial residents in San Francisco were costly. The company was founded in 2014 with a vision to help retailers to enrich their business plans. The company received $1.75 million financing from Bay Area venture capital companies, UPSTART business journal said.

The start-up industry is growing amid many challenges in the global market. AreaMetics is one among those start-ups that is moving forward with an aim to help merchant markets by providing well-designed analytics data.

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