Venvee utilizes computer vision and spatial AI to analyze in-store shopper behavior by tracking customer journeys through existing security cameras, providing insights into interactions with advertisements and products. This technology enables retailers to measure the effectiveness of in-store advertising and enhance first-party audience data, addressing the challenge of understanding shopper engagement in physical retail environments.
Funding
$980K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
KFounders
Product
Problem
Physical retailers struggle to understand shopper behavior and measure the effectiveness of in-store advertising due to a lack of comprehensive data on customer journeys and interactions within the store environment. The deprecation of third-party cookies has further increased the need for first-party data solutions to enhance audience understanding.
Solution
Venvee provides an audience measurement and enrichment platform that leverages existing security cameras and spatial AI to analyze in-store shopper behavior. The platform reconstructs shopper journeys from entry to exit, capturing interactions with products, displays, and advertisements without using biometrics or geolocation. By correlating impressions and interactions to conversions, Venvee enables retailers to measure the incrementality and return on ad spend (iROAS) of in-store advertising. The collected shopper journey data can also be combined with point-of-sale or loyalty data to enrich first-party audience profiles and improve advertising strategies.
Target Audience
Venvee targets physical-first retailers, advertisers, and suppliers seeking to understand shopper behavior, measure in-store advertising effectiveness, and enrich first-party audience data.
Features
- Uses existing security cameras; no new hardware or changes to store layout required
- Spatial AI and digital twin reconstructions to understand shopper behavior
- Uninterrupted customer journeys from entry to exit for every customer at every store
- Measures shopper interactions with advertisements, products, and in-store features
- Calculates incremental return on ad spend (iROAS) for in-store advertising
- Enriches first-party loyalty data with in-store shopper behavior
- Biometrics-free and geo-location free approach to consumer privacy