SAN FRANCISCO, CA / ACCESSWIRE / October 12, 2021 / Constellation, a distributed infrastructure that connects big data and the blockchain, today announced it has acquired Dor, a startup that helps retail brands grow their business by empowering them to improve customer outcomes through its data analytics solution that enables them to better understand store foot traffic.
With the acquisition, Constellation is positioned to acquire and codify Dor's voluminous foot traffic data and link this data with other large consumer datasets. Equipped with this information, the company will be able to provide a new level of insight into spending habits of millions of consumers without compromising privacy. By combining its existing mobile node infrastructure and Dor's hardware, Constellation is poised to create the largest mesh network in blockchain.
"Acquiring a data-driven hardware and software company will help us increase Constellation's network utility," said Ben Jorgensen, CEO of Constellation. "With its cutting edge technology, Dor is providing critical data that is enabling thousands of retail stores in the US and Canada to improve the customer experience, and ultimately to grow their businesses."
"With this acquisition, and the data we can obtain with Dor's battery-operated and cellular-powered thermal sensors, we can put millions of monthly data points into our network," said Jorgensen. "This acquisition kickstarts our vision and ambition to merge crypto businesses with traditional businesses," he said.
Dor, a start-up, based in San Francisco, will continue its retail operations while working with Constellation to develop new blockchain-focused products. Dor was founded by two former Apple engineers in 2015 and funded by leading venture capital firms including Zetta Ventures, Bolt Ventures, BCV, Conductive Ventures, RevTech Ventures, Precursor Ventures, and Vertex Ventures in Seed and Series A rounds with a total investment of more than $15 million.
"Dor has tens of millions of data points per month," said Michael Brand, the CEO of Dor. "The data that Dor provides allows retailers to make changes to better optimize their stores' performance. In a world where stores use an endless amount of experiments and tactics to increase sales, there is no way to pinpoint which methods work unless you have the data that can back it up. Constellation will help us streamline that data in addition to exploring new possibilities in the world of cryptocurrency and distributed ledger technology."
A Scalable Blockchain Model That Supports a World of New Applications
Unlike blockchains such as Bitcoin and Ethereum, which face scalability challenges due to their linear networks, the Constellation network is based on a directed acyclic graph (DAG) model. The model forms a database of nodes in a decentralized lattice structure that can handle millions of data inputs and grow exponentially as the amount of data grows.
With the combined growth of Constellation's Hypergraph network and Dor's hardware innovation, the acquisition lays the foundation for new developments in blockchain technology and integrations into real-world applications and bolstered infrastructure.
More than 2,000 retailers rely on Dor's technology to make actionable, data-driven decisions based on foot traffic information. Dor's thermal foot traffic counter counts the heat signatures of store visitors and is supported by its proprietary machine learning algorithms to maintain and increase the accuracy rates. Dor's sensor is a peel-and-stick solution that uses a cellular connection which makes it easy and secure to install for both independent and enterprise retailers. Dor's thermal sensor tracks customers anonymously, so there's no risk of compromising customer privacy.
The acquisition of Dor reflects Constellation's vision to lead a global mesh network on distributed devices. By acquiring Dor, Constellation will have the capability to deploy its technology to the retail sector and tap into the significant market size of brick and mortar stores by extending its network with mobile nodes for transactions.
About Constellation Network, Inc.
Constellation Network is a framework that allows everyone to build and conduct a business on blockchain. Existing blockchain technology does not support the speed, scalability, and economic incentive needed to build applications with robust business logic. Constellation is its own ecosystem, comprising Hypergraph-a feeless network with a reputation-based consensus mechanism, the peer-to-peer Stargazer Wallet, and a decentralized finance platform called Lattice Exchange. Constellation's L_0 state channel token standard is an evolution of smart contracts that defines the rules of any business while tapping into Constellation's Hypergraph, powered by rewards. $DAG is the native cryptocurrency that runs on the Constellation Network.
Website: www.constellationnetwork.io
Twitter: https://twitter.com/Conste11ation
Telegram: https://t.me/constellationcommunity
About Dor
Founded by ex-Apple engineers and funded by several VCs including Zetta Ventures, Bolt Ventures, BCV, Conductive Ventures, RevTech Ventures, and Vertex Ventures during the Seed and Series A rounds, Dor helps hundreds of brands increase their store performance with its simple data visualization and analytics solution powered by the world's first battery-enabled, thermal-sensing people counter. Dor customers can see their store's peak hours and optimize their staff scheduling accordingly. They can also integrate Dor into their POS systems and see the conversion rates of their customers. In addition, Dor customers can measure their marketing effectiveness by attributing the foot traffic data to their marketing campaigns. For more information, visit getdor.com.
CONTACT:
Dan Edelstein
PR@marketacross.com
SOURCE: Constellation
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