Dor Secures $8.5 Million in Growth Funding, Disrupting the Status Quo in Retail and Facility Foot Traffic Analytics
SAN FRANCISCO--(BUSINESS WIRE)--Aug 7, 2018--Foot traffic analytics company Dor closed its Series A fundraising round, accepting $8.5 million from investors Vertex Ventures, Conductive Ventures, AME Cloud Ventures, Zetta, Bolt and Precursor Ventures.
Originally conceived as a people counting system for independent retailers, Dor found that pain points in deployment and installation are universal when it comes to foot traffic analytics solutions. By expanding to meet market demand in facilities and enterprise-level retail, Dor has proven that gathering and utilizing foot traffic data can be as easy as “peel, stick and count” while still delivering industry-leading accuracy and robust analytics.
Key factors that contributed to investors’ interest include:More than 40 percent month-over-month growth in the last 16 months. Market demand from enterprise-level retailers and facility managers, driven by Dor’s ease of installation, battery-operated sensor and zero-calibration hardware. Dor’s new, more robust foot traffic analytics platform, launched in March, identifies missed opportunities for sales and simplifies tracking marketing effectiveness.
“We discovered that our product was particularly useful for larger retail chains and facility management organizations, and pivoted to accommodate that demand,” said Michael Brand, CEO and co-founder of Dor. “We’ve proven that Dor can scale to serve enterprise-level retail and can also provide the kind of granular, real-time foot traffic data that facility managers require.”
“Bolt has been delighted to be an investor in Dor since leading the first investment round, and we are excited to see the company’s expansion to large retailers and enterprise level facilities management,” said Bolt general partner, Axel Bichara.
“Dor hasn’t lost sight of its original goal,” Gregg Golembeski, CTO and co-founder of Dor, explained. “We will continue to serve small- to medium-sized retailers. That’s key to all of us at Dor. We’re here to empower businesses of all sizes with accessible foot traffic analytics, and that won’t change, even as we continue to expand into new markets.”
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Markell Lynch, 919-817-8910
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT RETAIL OTHER RETAIL
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