Lithuanian company Attention Insight, which is developing an AI-powered pre-launch design analytics platform for website and advertising campaign testing, has received €285K in bridge investment from Lithuanian and Polish venture capital funds. This is the second stage of investment attracted by the Lithuanian startup.
With e-commerce rising during the pandemic and reduced opportunities to physically conduct consumer research, Attention Insight’s platform for predicting attention to visuals is here at the right time.
Founded in 2019, Attention Insight helps users automatically detect which design elements found on websites, outdoor adverts, or other environments attract users’ attention the most. The company’s product analyses the imagery and offers recommendations based on a database of more than 30,000 images assessed in eye-tracking studies. In this way, results are obtained immediately without service users needing to invest in their equipment and research. Based on the Massachusetts Institute of Technology (MIT) model, which is held as ‘the market standard’, 90-94% accuracy has been achieved compared to regular eye tracking studies.
Attention Insight’s product already has integration with Adobe XD and Sketch tools, which are particularly relevant to the design community, while also having a Chrome plugin. Users are offered heatmaps for their websites or other visual materials, clarity scoring, various recommendations, possibilities for comparisons, and more. So far, as a result of this technology, the startup has convinced over 5,000 users across the US, German, Scandinavian and other markets.
Last autumn, Attention Insight attracted €421K from LVPA for incentivising R&D and innovations, including improving AI technologies and gathering new data on eye movement. Attention Insight CEO and co-founder Kamilė Jokubaitė commented that the funding drawn from investors will primarily be allocated to expanding into new markets and developing and improving features.
“We hope to reach 15,000 users this year – marketing professionals, agencies, news media outlets, and e-commerce companies. We will focus more on the massive and particularly promising Polish market and Polish agencies via our Warsaw branch. Still, we are not limiting ourselves geographically and look to grow around the world. We will continue to perfect the product’s functionality, datasets, technologies based on artificial intelligence and deep learning. We will also seek new opportunities in the particularly pertinent mobile device market,” said Jokubaitė.
Artur Banach, Partner at Movens VC, believes that Attention Insight will revolutionize how marketers, graphic designers, or UX/UI specialists work on campaigns or websites. He is also happy that the company will strengthen its operations in Poland due to Movens’ investment: “Thanks to its pre-launch design analytics, any creative can be optimized X100 faster, X100 more cost-effective, and the most important in many cases before their launch. We are amazed by the company’s global traction (5000+ users), enthusiastic reviews from customers, and excellent results of campaigns on Appsumo or ProductHunt,” said Banach.
“We are thrilled to continue backing Attention Insight as we believe that their technology and products have great potential in a more and more visual-oriented business and consumer world,” seconded Jens Damsgaard, partner at Open Circle Capital.
Currently, the company’s team is comprised of eight staff members and partners in Vilnius and Warsaw. The team is expected to double in the next few quarters.