Retail start-up VisionR raises €1.5m to further expansion within Europe
Solution offers brick and mortar retailers the same levels of data insights that e-commerce stores deliver
17 May 2022 | 0
VisionR has raised €1.5 million in funding to further its European expansion and grow its development team in Ireland.
This is the second raise for VisionR, which was formally known as Glimpse. The latest fundraise was led by Delta Partners, as part of Delta’s fund 4, backed by Bank of Ireland.
VisionR is a unique solution offering brick and mortar retailers the same levels of insights that e-commerce stores deliver. Retailers are used to getting abundant shopper data from their online stores which they use to personalise the shopper experience while driving sales. Retailers cannot do the same optimisations when it comes to their physical stores because the same data has not existed to this point. VisionR was created to leverage this level of data straight from the shop floor.
VisionR has developed a seamless plug-in solution, the Scout, which uses computer vision and machine learning to transform real-world shoppers into reliable online data that retailers can access through VisionR’s platform. From the moment a shopper enters in-store, the Scout breaks them down anonymously into footfall, shopping groups, shopper profile, shop duration, product engagement, and spend. Utilising this information, retailers can make the same informed decision about marketing, sales, and operations they can online, maximising revenues.
VisionR’s customer base includes any brick and mortar retailer with a physical premises, from grocery, to convenience, to fashion. To date, VisionR has secured notable customers such as the Global Pet retailer Maxi Zoo, Dulux Paints, and BWG Foods, whose brands include Spar, Eurospar, Mace, and Londis.
In select Spar stores, BWG could perform actions using VisionR data at the promotional shelf ends that yielded extremely positive results which caught the attention of Spar international. Spar International, who have 13,500 partners globally, have also partnered with VisionR.
“Through our partnership with Spar International, we aim to empower Spar organisations across 48 countries with revenue generating data,” said Oran Mulvey, co-founder, VisionR.
“We give retailers a uniform view of their online and offline shoppers, a complete connected shopper journey, all without storing any personally identifiable data,” added Shane O’Sullivan, co-founder, VisionR.
VisionR raised €550,000 in 2020 to further develop the company’s technology, offering, and positioning in the market.
“Physical retailers have been starved of insights to their customers,” said Dermot Berkery of Delta Partners. “That makes it incredibly hard for them to compete against online retailers that have voluminous data and rich insights.
“What excited us at Delta about what Oran and Shane are doing is the promise of levelling the playing field for physical retailers. Their technology is simple to adopt and gives insights right out of the box, all while staying within the important bounds set down by privacy requirements such as GDPR.”