Nomi co-founder and Chief Revenue Officer Wesley Barrow told me that even though this is technically an acquisition, “Everyone on both sides of the business sees it as a merger.” He noted that the entire Nomi team will be staying with the company post-acquisition, and that it was an all equity deal, with no cash changing hands.
The combined entity will have 110 employees, with Brickstream CEO Steve Jeffery remaining in his role, while Nomi CEO Marc Ferrentino becomes chief marketing officer. Barrow himself will become head of new business and strategic markets.
Nomi was founded about two years ago by a team of executives from Buddy Media and Salesforce.com (which acquired Buddy). Its stated goal was to bring online analytics to offline businesses — helping them track which marketing campaigns were bringing customers into the store, and which of those customers were actually making purchases.
Brickstream has installed more than 100,000 in-store devices for camera-based analytics, so Barrow said that the deal helps Nomi sidestep the hurdle of actually getting its technology into stores.
“We never wanted to be a hardware company,” he said.
At the same time, Barrow said Nomi’s analytics tools help complete the Brickstream platform, and the combined platform is something that should “ruin all our competitors’ days.” The companies say that in the past three months, they’ve already signed 32 joint clients.
Nomi had raised $13 million in funding, most recently in a Series A from Accel Partners, First Round Capital, Greycroft Partners, and Forerunner. Brickstream is headquartered in Atlanta, but the Nomi team will continue to work out of their New York City office, and products will continue to be sold under the Nomi name.
image from the nomi website