Euclid Analytics, a US-based spatial analytics platform backed by media group Cox Enterprises and telecommunications firm Novel Group, was acquired by co-working spaces provider WeWork on Thursday, according to TechCrunch.
Financial terms of the acquisition were not disclosed. Euclid’s 24 employees will remain with the company.
Founded in 2010, Euclid Analytics has developed analytics software that tracks the behaviour of customers in locations such as shopping centres and airports. WeWork said it would use the technology to gain clustered information about its spaces rather than tracking individuals.
Euclid’s technology will be integrated with that of Teem, which allows users to know when a conference room is booked and facilitates automated visitor check-ins. WeWork acquired Teem for $100m in September 2018.
The combined technologies will be marketed through WeWork’s workplace insights product, an analytics software platform the company hopes to sell to businesses that are not renting office space, but which want some of the same benefits.
Euclid had raised $43.6m altogether. Cox Enterprises led its $20m series C round, which also featured included private equity firm Groupe Arnault, as well as Gold Sky Capital, Benchmark Capital, New Enterprise Associates (NEA) and Harrison Metal, in 2016.
Novel TMT Ventures, an investment subsidiary of Novel Group, had participated in the company’s $17.3m series B round in 2013 alongside Benchmark, NEA, Harrison Metal, Ulu Ventures, XG Ventures, TriplePoint Ventures and assorted angel investors.
