London-based emotion measurement technology company, Realeyes, today announces it has completed a $3.2m A-round investment by Entrepreneurs Fund and SmartCap. This brings the total financing raised by Realeyes to over $4.6 million.
Dubbed “The Google of Emotions”, Realeyes measures facial expressions and quantifies people’s emotional reactions through standard video devices, such as webcams and in-store cameras.
Realeyes analytics platform has been used by the world’s leading research firms including Nielsen, Ipsos and Toluna to improve ad campaigns for more than 30 brands near the top of the Fortune 500.
The fastest-growing area for Realeyes is social video, around which the next product launches will soon take place. The $3.2 million investment enables Realeyes to advance its technology platform towards ‘Big Data’ applications as the company moves beyond panel-based testing to gather emotional feedback from social media, mobile apps and in-store situations. Realeyes will also quadruple its sales force internationally and move its US offices from Boston to New York.
Mihkel Jäätma, Realeyes CEO: “Emotion measurement solves the key problem in research – to provide true subconscious feedback. Scientists have shown over 90% of human behaviour and decision making is driven by the subconscious; yet over 90% of current research and feedback is based on conscious self-reporting.
This massive imbalance is dissipating as it’s now easier to record emotions via webcams than having people fill in surveys.”
Andrus Oks, Investment Manager at SmartCap, says of the deal: “Realeyes represents the next generation of research beyond surveys, interviews and focus groups; helping brands connect with people better than legacy methods. The fundamental predictive power of emotional response is setting the stage for a serious disruption in the behavioural analytics space in general.
This ability to ‘see around the corner’ and the fact this technology is also changing the face of education, games and measuring in-store behaviour made Realeyes a very exciting and attractive investment opportunity.”