U.K.'s 'Google of Emotions' Raises $3.2 Million
LONDON -- Realeyes, a company that offers "emotion measurement" technology, has received $3.2 million in funding, which it will use to further its development of social video measurement services.
The capital investment from Entrepreneurs Fund and SmartCap brings the total financing raised by London-based Realeyes, which calls itself “the Google of emotions," to more than $4.6 million.
The firm's technology measures facial expressions via video devices, such as webcams and in-store cameras, and uses them to interpret people’s emotional reactions. Its analytics have been used by such companies as Nielsen to improve ad campaigns.
The company said its fastest-growing area is social video.
In the media and entertainment space, Realeyes technology can, for example, be used to test and edit video content to make it more appealing at the stage of story boards. It can also help companies to shorten video content and reduce costs without sacrificing the content's impact. It has also been used to predict sales when comparing new and older commercials, the latter of which have already yielded sales data.
The company is currently developing its technology to gather facial/emotional feedback from social media and mobile apps.
During the U.S. presidential campaigns, Realeyes was used to predict who would win based on audiences' reactions to various speeches, according to the firm.
With the funding, Realeyes said it would grow its international sales force and move its U.S. offices from Boston to New York.
Said CEO Mihkel Jaatma: “Emotion measurement solves the key problem in research – to provide true subconscious feedback. Scientists have shown over 90 percent of human behavior and decision making is driven by the subconscious; yet over 90% of current research and feedback is based on conscious self-reporting."