eyeQ raises $3.5M Series A to continue growth

by Tessa McLean
May 23, 2016
Austin's eyeQ today announced a $3.5 million series A funding round led by Align Capital, with continued participation from existing investors. 
The new infusion of capital will bolster continued technology development, product enhancement and revenue pursuit. 
“We are thrilled with an additional financial infusion to help us 
accelerate our business,” said eyeQ founder and CEO Michael Garel in a statement. “More resources will enable us to continue serving the growing needs of our current customer base who want to expand their use of eyeQ technologies. This investment will also help us to more quickly add new retailers and brands who are using eyeQ to reinvent the in-store shopping experience.” 
eyeQ utilizes IBM BlueMix and IBM Watson to personalize the in-store shopping experience with custom, interactive in-store digital displays. The devices respond to age, gender, location, frequency of visit and emotion and hope to deliver increased loyalty to the store.
The company will also add Lisa Harris, managing partner of Align Capital, to its Board of Directors. 
“We recognize the potential and value of eyeQ,” said Harris. “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. In addition to Michael Garel and his management team, the response to the technology by end consumer shoppers as well major brands such as Ford, HP, IBM, Intel, Samsung and OtterBox is what solidified our interest in investing.” 
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