Mediar
In-store shopper behavior data for brands. Maximize missed sales opportunities.
Overview
Raised: $38,951
Rolling Commitments ($USD)
02/27/2023
$649
83
2012
Business Services, Software, & Applications
EnterpriseTech
B2B
High
Low
Summary Profit and Loss Statement
FY 2021 | FY 2020 | |
---|---|---|
Revenue |
$212,501 |
$185,900 |
COGS |
$124,549 |
$148,014 |
Tax |
$4,946 |
$488 |
| ||
| ||
Net Income |
$-490,747 |
$-564,597 |
Summary Balance Sheet
FY 2021 | FY 2020 | |
---|---|---|
Cash |
$186,265 |
$6,772 |
Accounts Receivable |
$25,086 |
$62,849 |
Total Assets |
$287,174 |
$132,942 |
Short-Term Debt |
$849,505 |
$989,528 |
Long-Term Debt |
$317,757 |
$282,073 |
Total Liabilities |
$1,167,262 |
$1,271,601 |
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Edge
Many companies are trying to capitalize on in-store customer behavioral data to keep up with e-commerce popularity. But from what I have seen, it is difficult to accomplish. Unnatural methods of data collection can disrupt shoppers and tamper with the results.
Sales data can be a decent proxy for understanding customer behavior, but it is not nearly as valuable as understanding the decision making that went into a purchase. Gustavo Lemos, founder of Mediar, classifies this data as “what could have been sold.” Mediar’s artificially intelligent software offers insight into just that by tapping into security footage and collecting shoppers’ behavioral data anonymously. The software is sold directly to brands. Then the brands go to retail partners and request to use the software with existing security camera systems.
Founder Profile
Mediar Co-founder Gustavo Lemos on Maximizing Offline Sales
The ability to target online ads is a huge advantage to e-commerce sales. But observing and quantifying consumer behavior in brick and mortar stores has been notoriously difficult. As a result, there is little data-backed reasoning for why some products sell better than others when placed in certain areas of stores.
Mediar seeks to bring data and artificial intelligence to shopper behavior analysis for physical stores. The company’s software platform integrates with a store’s existing security surveillance system and then collects anonymized shopper behavior data that brands can use to improve their sales. KingsCrowd reached out to Mediar CEO and co-founder Gustavo Lemos to learn about what sets the company apart from competition and how brands can benefit from the software.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.