TechStars startup ReTel Technologies just raised $1 million in seed funding from SoftTech VC, Hyde Park Angels, FF Angel, Maples Investments, eonBusiness and Zelkova Ventures. The funds will be used for product development and to expand ReTel’s engineering and sales teams.
ReTel’s flagship product, ConstantAudit, provides video surveillance analysis for stores and restaurants. The startup uses security camera feeds to deliver interesting metrics and data such as table cleanliness, service times, and employee activities. ReTel delivers human tested analytics using paid micro-tasks on services like Mechanical Turk to break down data from the videos. This enables the company to deliver sophisticated reports that include data points such as male vs. female ratios, instances of theft by employees, and other actions that only humans can get right.
Launched from TechStar’s 2009 class, ReTel has already signed on Shell Petroleum and Dunkin’ Donuts as customers. ReTel was also recently chosen as one of seven finalists out of hundreds of applicants for Amazon.com’s 2009 AWS Start-Up Challenge.
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