BOSTON, Sept. 21, 2011 /PRNewswire/ -- Innerscope Research, Inc., the leader in using neuroscience informed biometrics to deliver unique audience and consumer insights, today announced that it has closed the final $2 million tranche in a $9.4 million Series A financing round. Innerscope, which was founded in 2006, has more than doubled revenue in the last two years and its core business is self-sustaining.
Innerscope is targeting this latest funding specifically to develop a new and more scalable platform that will help it improve geographic representation, reduce turnaround time and accelerate its expansion in the U.S. and abroad. This technology will support all aspects of Innerscope's core business, which provides unique and deep insights into unconscious responses related to multi-platform media measurement, television and print advertising effectiveness research, shopper insights and a variety of custom applications.
"We're thrilled with our growth and believe this investment will allow us to continue to lead the industry in applying neuroscience and unconscious emotional responses to media and advertising research," according to Dr. Carl Marci, Innerscope Research CEO and Chief Scientist, "In the coming months we will announce this new technology that will revolutionize the way biometric data is collected."
The financing round comes on the heels of a series of milestones for Innerscope. In the last year, Innerscope has successfully participated in the ARF Neurostandards Collaboration and forged multiple partnerships, including one with market research leader Ipsos to fully integrate biometric measures of unconscious emotional engagement into a suite of Ipsos' leading products on a global scale. The company also operates the largest dedicated commercial neuroscience based biometric and eye tracking Media Lab in New England. Innerscope is increasing its staff. In the last four months, the company has increased its research and development team by over 60 percent and its operations team by over 40 percent.
About Innerscope Research
Innerscope Research, Inc. is dedicated to creating unique insights by measuring and analyzing unconscious emotional responses to media and marketing stimuli. With its breakthrough and validated Biometric Monitoring System™, Innerscope accurately predicts consumer behaviors, providing Fortune 100 advertisers and media companies with an unprecedented level of consumer insight. Founded by Harvard and MIT scientists, Innerscope leverages the latest advances in biometrics, neuroscience and eye tracking to measure moment-to-moment emotional engagement, the primary driver of behavior and choice. For more information, visit http://www.innerscope.com.
SOURCE Innerscope Research, Inc.