Media group Cox Enterprises has led a $20m series C round for US-based location analytics technology provider Euclid Analytics that included luxury product holding company Groupe Arnault.
Gold Sky Capital, Benchmark Capital, New Enterprise Associates (NEA) and Harrison Metal also took part in the round, which increased Euclid’s funding to $44m since its formation in 2010.
Euclid provides a location analytics system that helps retail businesses, shopping centres and airports better understand customer behaviour and plan accordingly.
The series C round follows a $17.3m series B in 2013 backed by Novel TMT Ventures, an investment subsidiary of telecommunications company Novel Group, as well as Benchmark, NEA, Harrison Metal, Ulu Ventures, XG Ventures, TriplePoint Ventures and assorted private investors.
Duncan O’Brien, Cox Enterprises’ senior vice president and general manager of corporate strategy and investments, said: “Technology is transforming how the world buys and sells products across all industries, and as a company that provides broadband communications, Cox understands the importance of wifi.
“With its extensive technology, wifi and data science expertise, Euclid is positioned to bridge the gap across the online and offline worlds in this new digitally-connected era of retail.”
O’Brien will also join Euclid’s board of directors in conjunction with the round.