Finnish startup Walkbase aims high with retail analytics solution

Walkbase offers tools for analysis of footfall patterns and opportunities for improved design, marketing and customer engagement.

Finnish startup Walkbase has enjoyed growing demand for its retail analytics solution during the past year, according to the Finnish business daily Kauppalehti. Walkbase’s platform provides retailers with the means to analyse footfall patterns, in-store behaviour, offline sales funnel, and for calculating the in-store impact of marketing activities.

Walkbase’s third funding round at the end of last year attracted EUR 3 million, including investments from SBT Venture Capital and Nokia’s former CEO Olli-Pekka Kallasvuo. The aim of Walkbase and its investors is to list the company on Nasdaq in the future. “The objective should be nothing less than to be the best in the world,” says Walkbase’s CEO Tuomas Wuoti, in Kauppalehti.

Understanding customer behaviour

In addition to retailers, Walkbase is directing its solutions to casinos, banks, cinemas, stadiums, restaurants and gas stations, among others. Walkbase’s technology can also help airports and other passenger hubs to enhance travel experiences through queue management, passenger flow analytics, layout and route optimization, and location-based services and recommendations to passengers’ smartphones.

Walkbase’s marketing and engagement features are based on WiFi and BLE beacon technology. Walkbase’s biggest client in Finland is Helsinki Airport, where its sensors observe the mobile phones of passengers that have WiFi switched on. Walkbase’s technology then analyses how long people spend in different departments, how they move to the security check, and how queues are formed in different places.

Sources: Kauppalehti, Walkbase