EyeQuant, a spin-off from the University of Osnabrück, predicts where users will look in the first three seconds of a website visit. All that’s needed is a URL or uploaded image. Groupon, for example, used it to figure out that moving its sign-up form out of a “blind spot” would get a 50 per cent conversion boost. Here’s what it served up for VentureVillage:
This solution stacks up well to eye-tracking studies using real participants. “Big data is great, but what marketers, growth hackers and designers need is quick data,” EyeQuant CEO Fabian Stelzer said. “EyeQuant is proven to be 90 per cent as accurate as a real eye-tracking study, but delivers insights at less than one per cent of the time and cost.”
Clients have included Spotify and Barnes & Noble. In fact, according to Stelzer, the company now has “hundreds of paying clients, from ‘Mom and Pop’ shops to teams within Google and Nokia”. Entry-level pricing is €99 per month.
The technology itself is based on a 2002 Caltech patent authored by Christof Koch and Laurent Itti, who now work with EyeQuant. According to GigaOm’s David Meyer, who also dug up that link to the patent, EyeQuant has an exclusive license to use the patent for sales and marketing purposes. Other companies offering somewhat similar services include 3M’s Visual Attention Service.
How is the team of 10 in Berlin funded? As well as those paying customers, EyeQuant announced on Wednesday that it had raised €500,000 from investors including UK-based Ballpark Ventures and Robin McIlvenny.
The new funding will help it expand from websites to mobile apps – and, later, in a move that could complement or replace other virtual reality solutions, physical retailers.
Image credit: Flickr user Liz West
FOR RELATED POSTS, CHECK OUT:
- Pinterest decides it likes money after all by launching ads
- Want to advertise on Instagram? Brandnew IO has a plan – and seed funding to get started
- Ad tech platform YD bags €4.6m from Partech Ventures Berlin