Brickstream Corporation Closes $6.2M in Series A Financing with Columbia Capital and Mohr Davidow Ventures
Fairfax, VA, March 19, 2003
Brickstream Corporation, a leading provider of customer intelligence software solutions, today announced the closing of $6.2 million in its Series A Financing. Leading venture capital firms Columbia Capital and Mohr Davidow Ventures (MDV) co-led the financing. Brickstream will use the new funds to expand product development and grow its sales and marketing efforts.
Brickstream's customer intelligence software solutions deliver critical insights about the customer experience in retail environments. Brickstream's solutions are powered by the award winning Brickstream System, a powerful suite of software that leverages in-store video technology and patented “image understanding” software to automatically and anonymously track customer movement in a brick-and-mortar environment. The Brickstream System transforms this movement data into actionable intelligence and delivers it in real-time to decision-makers. Retail businesses act on this intelligence to improve in-store service, in-store marketing effectiveness, and store layouts.
“Brickstream is strategically positioned to benefit from an increased focus on delivering superior customer experiences in brick-and-mortar stores,” said Amir Hudda, CEO of Brickstream. “The combination of new customer acquisitions, market recognition, and additional funding demonstrates the strength of our offerings and the value we deliver to retail businesses.”
Since launching its business in January 2002, Brickstream has gained significant momentum, providing customer intelligence software solutions to several Top 100 retail stores, banks, and consumer packaged goods manufacturers. Brickstream's technology and products have also won recognition, including winning “Best New Product” at Global Shop 2002, “Best Future Technology” at Retail Solutions 2002, and “Best of Show Finalist” at BAI's Retail Delivery 2002.
“Brickstream’s technology depth, existing patents, and proven ability to scale the solutions in real-world environments is what really attracted us to the company,” said Mike Sheridan, General Partner at MDV. “In a relatively short period since their launch, Brickstream’s solutions are already providing tremendous value to several large retailers and banks.” “Brickstream’s ability to close large deals with top tier retail and banking customers in the current difficult market environment validates that the company is providing a differentiated solution to an existing problem in the marketplace”, said Arun Gupta, Partner at Columbia Capital. “ We believe that Brickstream’s success in establishing early partnerships with leading software and services firms will enable them to efficiently scale the business.”
As a result of this financing Arun Gupta from Columbia Capital and Mike Sheridan from Mohr Davidow Ventures have joined Brickstream’s Board of Directors.
About Brickstream
Brickstream sets the standard for a new generation of analytical customer relationship management (CRM) for the brick-and-mortar economy. Brickstream provides the Brickstream System, a closed loop analytical CRM software solution that enables businesses to continuously capture and analyze information about their interactions with customers in a brick-and-mortar environment, and act on this information in real-time to improve the planning and execution of CRM initiatives. Developed over a period of seven years, the Brickstream System is protected by numerous patents. Brickstream serves retailers, retail banks, and consumer packaged goods manufacturers throughout North America and Europe.
Contact
Leigh Canavan
Brickstream Corp
404-243-8183
leigh.canavan@brickstream.com
