Copenhagen (October 9, 2006)—iMotions – Emotion Technology A/S, the leading developer of objective, non‐intrusive emotional response software, announced today that it has raised US$1.7 Million in bridge funding to be used to strengthen and expand its organization worldwide.
The new investor is Niwa Group, an investment group controlled by Niels Wall, with attorney Carsten Malby as Chairman. “iMotions has proven that it is possible to develop a software product and build an international organization within a very short period of time. Advertising and Marketing Research companies are looking for new methods to understand consumers, and iMotions has breakthrough technology that works alongside existing methods of measuring consumer reactions,” says Carsten Malby, who is also Chairman of the Board of one of Denmark’s largest ad agencies, as well as a partner in the law firm of Gorrissen Federspiel Kierkegaard.
iMotions set its sights on the international market from early on. “We recently attended the marketing research conference ESOMAR 2006 in London, and demonstrated our software, Emotion Tool, for potential clients from Europe, the United States, South America, Japan, and India. People gave us great feedback and expressed sincere interest in iMotions’ unique solution,” according to Peter Hartzbech, Co‐founder and CEO of iMotions.
“As we add more functionality to the software and build our sales organization, we need to add more people to our team. By the end of the year, we expect to be 40 employees worldwide compared to the current 18 employees in our Copenhagen office,” continued Peter Hartzbech.
The prior investors who have joined this current round of financing are Syddansk Venture A/S; Dansani Holding A/S; Clas Andersen, CEO of Nielsen & Nielsen Holding; Kenneth Morse, Managing Director of the MIT Entrepreneurship Center; marketing and PR expert Andy Miller, Chairman and CEO of Miller Consulting Group; and Joergen Thorball, Vice President of Business Development at Novozymes A/S. “The fact that most of the prior investors have also joined in this round demonstrates their belief in iMotions and our superior technology. In our next round of financing, we are concentrating on attracting investors from the American venture capital market,” says Peter Hartzbech.
iMotions – Emotion Technology A/S is the developer of Emotion Tool, the world’s first objective, non‐intrusive, reliable software to measure human emotional response to visual stimuli such as print ads, Direct Marketing material, and brochures. The software, which also measures visual attention, uses data from a standard eye tracking monitor. Emotion Tool version 1.1 is currently being marketed to the Advertising & Marketing Research industry worldwide.
Founded in 2005 by CEO Peter Hartzbech and CTO Jakob de Lemos, iMotions is headquartered in Copenhagen, Denmark. The company currently employs 18 people representing 9 countries.