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iMotions is one of Venture Cup's most successful alumni companies. Ever since iMotions participated in Venture Cup in 03/04 the company has attracted venture capital several times in its quest to take on the world. Most recently, the fast growing start-up raised $US 2.7million to expand its US sales and global support divisions.
It all started in late 2003 when Jakob de Lemos, with a background in computing and technology, kicked off the iMotions Project by combining so-called transparent multimodal interfaces with the latest research in neuroscience and digital media. It is a core technology that can measure human emotions through the eye and the first application, Emotion Tool, is the only software in the world that creates an objective analysis to consumers' insights on advertising and product design. The principal benefit for advertising and marketing research companies is the ability to test ads on the emotional level, which controls more than 90 percent of human decisions. A lot of hard work & the right networkJakob submitted his idea in Venture Cup 03/04 and with coaching from one of Venture Cup's professional coaches and a lot of hard work, his idea was among the 10 projects nominated to the national final. In addition, it was the networking opportunities that led Jakob to meeting Peter Hartzbech, who was the National Competition Manager of Venture Cup 03/04. Peter Hartzbech had returned from his Entrepreneurship MBA courses in Canada and was on the look-out for new opportunities and the two ambitious entrepreneurs joined forces. |
Together, in February 2005, they founded iMotions - Emotion Technology ApS and successfully raised kr 1.5 Million ($US 250,000) in seed funding. After completing proof of concept and filing patents directly in US, the company then secured $US 1.6 Million in its first round of financing in late 2005. The explosive growth helped iMotions achieve 3 important milestones by October 2006:
In January 2007 iMotions opened 2 new offices (in the US and in India) finally leading to the $US 2.7 million being raised in August 2007. Now employing 45 people worldwide, the story of iMotions and its sustained growth will surely change the way marketing and advertising professionals conduct their daily business.
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