Medallia, a New York-listed experience management company, has acquired Sense360, a US-based retail data analysis provider backed by Qualcomm Ventures, the corporate venturing arm of semiconductor producer Qualcomm, for up to $44m in cash.
In April 2017, Sense360 raised $7m in a series A round that included Qualcomm Ventures and led by existing investor Firstmark and also featured fellow venture capital firm Upfront Ventures.
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.
By combining five billion consumer signals from business visits, transactions and feedback, Sense360 delivers benchmarks to help brands, such as restaurant chains, convenience stores and retailers, understand where, how, and why buyers and non-buyers spend their time and money.
Eli Portnoy Founder and CEO of Sense360. “Bringing our solutions together will create the comprehensive real-time insights that are acutely needed to make strategic decisions on how to grow the business at this moment.”
Elizabeth Carducci, senior vice-president of vertical market solutions for Medallia, added: “We are witnessing rapid and permanent changes in consumer habits and behaviour, and companies need real-time understanding of why consumers choose them and why they don’t.”
