Each day for the past 8 years, we have been combining all of our creative backgrounds to produce a new kind of retail analytics solution. It is now trusted by over 200 clients worldwide.

We are solving one of the key challenges in modern business –  the use of data in making informed decisions. Ultimately, we help our clients maximize their profits by understanding who their customers are and what is the best way to engage with them.

By doing that, we have:

• generated €2.15M in revenue;
• served over 160 clients;
• installed 3 000+ counters;
• connected 1 000+ locations to the cloud.

In 2016 we opened CountBOX America in Chicago, IL, USA with five team members and CountBOX Europe in Dublin, Ireland with three team members. Another 10 employees work in our first office in Moscow, Russia.

So far, we have raised almost €1M in seed round investment for R&D and global expansion of our business from private venture capital funds in Europe and Enterprise Ireland’s High Potential Start-Up Program.

The Value We Provide

Using the same logic and similar tools to Google Analytics, CountBOX can suggest immediate changes to our clients’ businesses, to increase conversion ratios. For example, we might suggest a client increase staff in their stores at their  highest-traffic times, to assist customers and boost sales.

The data we gather from analytics shows significant buying trends on certain days, hours and months over the course of the year. Knowing those trends helps clients and their marketing teams accurately understand when to increase customer service and when to increase individual offers, so they can maximise turnover at their busiest times.

Our Research & Development (R&D)

We are developing a new counter with a demographic sensor and will make use of artificial intelligence technology to gather, analyse, and match online and offline data about customers.

With the new demographic data, store management will be able to access  data about the age, sex and race of shoppers, through the cloud. This demographic data is invaluable to any  store or business manager, as it gives insight into how to increase a particular target audience’s interactions with their  store and consequently boost loyalty and volume of sales. Clients can compare these indicators across their chain of stores and identify locations whose performance is lagging behind.

Our technology, when completed, will count each person as he or she enters the business. The counter will send  a triggering signal to a camera each time the shopper crosses the entrance line, causing the camera to take a picture of the customer. The software algorithm will send this picture to the counter, and the counter will analyse the image, capture any faces in it and send images of each face to the cloud. The algorithm in the cloud will recognise the face, identify demographic data about it (age, sex and race) and store its unique digital identification code on the server for those who become repeat-customers in the future.

We at CountBOX are also implementing an algorithm for gathering consumers’ feedback about their shopping experience, as they post it on social media.  A store’s manager will be able to see whether buyers make positive or negative comments about their store.  Having this information on hand in the cloud’s dashboard, a manager can track whether the number of visitors is increasing, whether shoppers’ feedback is positive, and whether their target audience of consumers is growing.  Based on this data, management can measure whether or not a marketing campaign is well targeted, retail sales consultants are well-trained, and in-store inventory is well-balanced.

Our Market

We define our market as the demand from management of brick-and-mortar retail stores who continuously need to know the number and profile of their shoppers. There are 3.7 million retail establishments  in the USA according to the National Retail Federation (https://nrf.com/who-we-are/this-is-retail). Only 3% of them are currently using people counting solutions. Source: Markets and Markets.

Our Clients and Revenue Model

CountBOX is adopting a monthly subscription model that encourages retail management to store more data in the cloud. We are also developing a demographic sensor that will identify the age, sex and race of shoppers.

We currently have hundreds of clients using our services, with over one thousand connected devices, including Apple, Samsung, TJ Collection, Tommy Hilfiger, Subaru, Hyundai, Swarovski, Tony Kealys, Carrolls Irish Gifts.

We work with medium-sized retail chains with up to 150 stores and with other retail-related companies and public organisations such as commercial real estate companies, commercial banks , fitness centres, city parks, museums and fairs.

Investment Opportunities

We are looking for investors in our R&D and the expansion of our business into European and US markets.

Pre-money valuation of business: €10,550,000

Requested investment: €1,500,000 for 14% of share capital

Costs structure: 

• Salaries €620,000
• Marketing €340,000
• R&D €540,000

For more information about investment opportunities in CountBOX, please contact us.