eyeQ Gets $3.5 Million in Venture Capital

EyeQ, a shopper intelligence platform, announced it has received $3.5 million in Series A funding.

Align Capital, a new investor, led the round with participation from existing existing investors. As part of the deal, Lisa Harris, managing partner of Align Capital, joins eyeQ’s board of directors.

The Austin-based startup plans to use the funds for technology development, product enhancement and for sales and marketing. eyeQ has created a combination of hardware and analytical software which it installs in stores. The system provides retail information to consumers with the ultimate goal of driving more sales for the retailer.

“We recognize the potential and value of eyeQ,” Harris said in a news release. “What eyeQ is doing for the in-store shopper experience is giving brick and mortar retailers a way to stay ahead of the game against online competitors.”

eyeQ’s customers include Ford, HP, IBM, Intel, Samsung and OtterBox.

“We are thrilled with an additional financial infusion to help accelerate our business,” eyeQ Founder and CEO Michael Garel, said in a news release.

Founded in 2012, eyeQ previously raised $1.2 million in seed stage funding.