US-based retail data analysis provider Sense360 has secured $7m in a series A round that included Qualcomm Ventures, the corporate venturing arm of semiconductor producer Qualcomm.
The round was led by existing investor Firstmark and also featured fellow venture capital firm Upfront Ventures.
Sense360 uses mobile sensor technology to obtain anonymised location and survey data on almost 20,000 service industry locations from a network of more than 2 million customers. A client can see complex behavioural data on a customer’s visit to their business as well as those of competitors.
Eli Portnoy, founder and CEO of Sense360, said: “The restaurant and retail industries have been challenged by a lack of deep and actionable consumer insights that can be leveraged to diagnose weaknesses and capitalise on strengths.
“This infusion of capital will further power Sense360’s technology and our people to generate useful and reliable data and products that help quick serve and fast casual restaurants gain a competitive advantage in today’s challenging market.”
Firstmark had previously led a $2.75m seed round for Sense360 in early 2015 that included Qualcomm Ventures, location services technology producer Telenav, Founder Collective, Metamorphic Ventures and Double M Capital.