Plytix founder Morten Hellesøe Poulsen left Google because he was frustrated at the limitations of Google Analytics, and thought he could build something to better serve the needs of brands.
He and cofounder Alex López launched Plytix in 2014, and have now raised $US500,000 in seed funding from SEED Capital and other unnamed angel investors, TechCrunch reports.
“Google Analytics is concerned with giving you data about your own website,” Poulsen told Business Insider. “But if you think of it from the perspective of a brand like Adidas, less than 6% of their products are actually sold on their own website. The rest of their products are sold on third-party web shops. Adidas does not have access to data from these third-party retailers, and they’re suffering because of it.”
The solution is simple. A brand like Adidas uploads images of each new product into an image bank hosted by Plytix, where they are tagged with an individual tracking code. Then, rather than taking their own photos of the products they want to sell, retailers grab them from Plytix’s content delivery network.
“That means that when brands log in to our Plytix analytics platform they will be able to see how users interact with their product no matter which retailer it is being sold by,” Poulson said. “Then, on the retailer side, they get the highest quality images delivered to them for free.
With a headquarters in Malaga, Spain, Poulsen says the company is already working with some world-famous Spanish and Danish brands.
Plytix is in the process of bringing a few more Googlers on board, Poulsen says. Some Google employees have invested in the company and sit on the advisory board, but aren’t involved in day-to-day operations. But Poulsen decided not to submit the idea to Google.
“I think that if we would have submitted this as a Google idea the company would have run with it, but we want to be in charge of this project. That wouldn’t have happened if we stayed at Google.”
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