Prism Skylabs

Prism Skylabs is a technology company headquartered in San Francisco, California, that designs, develops and sells business intelligence software for retailers with a consumer storefront.[1] The Prism Skylabs application compiles and analyzes the video data collected by surveillance cameras at brick-and-mortar locations to understand long-term trends and improve merchandising.[2]

Product

Prism Skylabs’ software is installed on computers that are connected to a retailer’s existing video surveillance cameras. The software compresses the video data and sends it to cloud servers, where it is analyzed by Prism Skylabs’ video analytics technology.[3] The company sends the analyzed data back to the retailer in the form of statistics and visualizations.[4] To address privacy concerns, the software blurs or completely deletes images of people and replaces them with graphical elements.[5]

The resulting information is intended to help retailers make sense of the large amounts of incoming video data. Prism Skylabs’ goal is to enable companies to better analyze long-term trends, such as number of customers, check-out queue lengths, foot traffic patterns, dwell time[6] and the most popular products in a store.[7] Retailers use this information to improve merchandising, store layout and customer service efforts and increase operational efficiencies.[8]

History

Prism Skylabs was founded by Steve Russell and Ron Palmeri in July 2011.[9] Its investors include Andreessen Horowitz, Anthem Venture Partners, CrunchFund, Data Collective, Expa, Intel Capital, Pacific Partners, Presidio Ventures, Promus, SV Angel, Tomorrow Ventures and Triangle Peak Partners.[10] The company secured $7.5 million in Series A funding in 2011 and an additional $15 million in Series B funding in October 2013.[11] It currently has about 30 employees.[12]

References

  1. ↑ “Prism Skylabs Refocuses Security Cams Into Productive Video Assets” by Leena Rao – Retrieved 3/19/2014
  2. ↑ The New York Times “Prism Plans to Recycle Security Camera Images” by Nick Bilton
  3. ↑ “The Next Level” by Sherleen Mahoney - Retrieved 3/19/2014
  4. ↑ www.technologyreview.com
  5. ↑ “Startup Scans In-Store Surveillance Footage to Analyze Shoppers’ Preferences” by Rebecca Boyle
  6. ↑ www.technologyreview.com
  7. ↑ "Secrets to Scoring Big Holiday Shopping Deals Revealed", segment on Good Morning America
  8. ↑ “Surveillance Video Becomes a Tool for Studying Customers” by Tom Simonite. Retrieved 3/19/2014
  9. ↑ “The Next Level” by Sherleen Mahoney. Retrieved 3/19/2014
  10. ↑ www.prismskylabs.com
  11. ↑ “CCTV analytics firm raises $15m to grow business” by Alex Hern - Retrieved 3/20/2014
  12. ↑ “Intel invests $15m in Prism SkyLabs” by Martha Entwistle – Security Systems News - Retrieved 3/20/2014
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