comparemetricslogoAustin-based Compare Metrics, which makes analytics software aimed at retailers, announced that is has received $3.8 million in follow-on venture capital.
Austin Ventures led the investment with additional funding by existing investors Julie Allegro of Allegro Venture Partners, Bob Greene of Contour Ventures, Capital Factory, Mike Maples Jr. of Floodgate, Brett Hurt of Hurt Family Investments and independent investors Dean Drako, Ralph Mack and Adam Ross.
This brings the company’s total amount of funding to $8 million. Compare Metrics received $4.2 million in first-round financing in May of 2013.
Compare Metrics recently made the Greater Austin Chamber of Commerce’s A-List of Startups to watch in Austin in the emerging growth category.
The company plans to use the money to support its continued growth. It now has 32 employees and several customers including Fresh Pair, Lenovo, Rebecca Minkoff and The Wasserstrom Co.
Garrett Eastham, Mikael Solomon and Stephen Goodwin co-founded Compare Metrics in 2012 based on Eastham’s cognitive science research at Stanford University.
“It has been exciting to watch the journey of the Compare Metrics team from a three-person start-up to the high-growth and maturing company that it is today. This follow-on investment is indicative of the company’s progress in proving out their market value,” Chris Pacitti, general partner with Austin Ventures, said in a news release. “Retail client results have again validated our original confidence in the company’s potential, and I look forward to watching their continued success going forward.”