In-Store Analytics Firm RetailNext Raises $15m

In the US, RetailNext has completed a $15m Series C round of financing, which it will use to expand its engineering team, deliver new detection and predictive analytics capabilities, and grow its operations in Europe, Asia Pacific and Latin America.

The San Jose, CA-based company (previously known as BVI) delivers a real-time solution to enable retailers and manufacturers to collect, analyze and visualize in-store data. Using video analytics, Wi-Fi detection, more than 30,000 on-shelf sensors, and data from point-of-sale systems and other sources, the firm tracks more than 400 million shoppers and says it analyzes trillions of data points each year.

The latest funding has been led by new investor StarVest Partners, with participation from all existing investors including August Capital, Nokia Growth Partners and Commerce Ventures, and brings the total capital raised to date to $29m.

CEO Alexei Agratchev (pictured) comments: 'Considering that 95% of purchasing still takes place in the brick-and-mortar channel, it is not surprising that we've seen a strong appetite among retailers to collect the factual knowledge about shopper behavior that can directly lead to bottom-line improvement. This rapid adoption is driving more than triple year-over-year revenue growth for the company, and we chose investors who can truly partner with us to expand into new markets.'

Web site: www.retailnext.net .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.