Denmark's iMotions – Emotion Technology A/S, a fledgling high-tech company specialising in development and production of emotion-sensitive software tools, has closed its fourth financing round that has raised DKK 16 m (USD 3 m) in additional capital. Part of the money will be used to open another office in the US.
According to Peter Hartzbech, managing director and co-founder of iMotions, it is important for the company to be close to its customers in order to ensure a good service. He comments: "This fall we are looking to open a new office in Chicago, where many of our customers are located."
New investors in this latest round of financing include The Way Forward ApS, controlled by entrepreneur Mads Kjær who has put DKK 2.5 m (USD 456,000) into the venture, and Casper Foghsgaard, business development manager of Novozymes in the US. Existing investors participating this time around include InVenture Capital A/S, Professor Ken Morse of MIT Entrepreneurship Center and marketing and PR expert Andy Miller of Miller Consulting Group.
iMotions has developed Emotion Tool, a software that can 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.
iMotions was founded in February 2005 and is based in central Copenhagen. The company currently employs 45 people in technology development in Denmark, software development in India, and sales in Denmark and the US. The news was reported by financial daily newspaper Børsen and on iMotions' website.