Compare Metrics Lands $4.2 Million in Venture Capital

images-10Compare Metrics announced it has received $4.2 million in first round financing led by Austin Ventures.
Other investors included Mike Maples with Floodgate, Bob Greene with Contour Venture Partners, Julie Allegro with Allegro Venture Partners and Ralph Mack with Mack Capital as well as investors Tom Meredith and Adam Ross.
The Austin-based company plans to use the money to support its expansion. The company makes an analytics software aimed at retailers.
“Compare Metrics is transforming the way people are making buying decisions,” Compare Metrics’ co-founder and CEO Garrett Eastham, said in a news release. “We believe the future of online consumer discovery is not about creating the ultimate algorithm to tell consumers what they want but about giving consumers the best tools to articulate their personal desires and confidently follow their unique decision-making path.”
Compare Metrics has created a platform that delivers only the most relevant features to a customer. The platform becomes more intelligent the more a user interacts with it. It learns a person’s preferences and then makes product suggestions based on certain features. The company has a patent pending on its feature discovery and comparison platform.
Compare Metrics makes money by selling categories to e-commerce sites on a monthly basis. It is a software as a service company and charges $500 per month per category to retailers.
Eastham, Mikael Solomon and Stephen Goodwin founded Compare Metrics in late 2012. The company debuted its product at the Innotech Beta Summit last November.
“The solution was inspired by cognitive science research Eastham led at Stanford University to understand the impact of different computer interfaces on the decision-making process,” according to a news release. “The team has grown the idea into an innovative technology platform built from the ground-up, grown a highly scalable content curation team and content management system, and has signed market-leading customers.”

Speak Your Mind

*