Retail Intelligence Provider Quri Grabs Growth Funds

San Francisco-based Quri, which provides retail intelligence based on reports from mystery shoppers, has raised $17m in a Series C round of funding. Plans for the money include expansion into markets in seven other major US cities.

Launched in 2012, Quri employs a nationwide network of mystery shoppers who measure in-store issues - such as how products are displayed 'on-shelf', or whether items are being displayed at the advertised discounted price - and report back through their mobile devices. Brands then access this feedback through an online dashboard, and can drill down to store level issues, which are flagged through a real-time alerting system called 'Quri Agile'.

The new funding round has been led by Kern Whelan Capital, with participation from all previous investors including Matrix Partners, Catamount Ventures, and Simon Equity Partners LLC. With this new round, the company has secured $30m funds to date. As part of the investment, Quri plans to double staffing in sales, R&D and marketing, and has already appointed former comScore/InMobi exec James Lamberti to lead its Global Marketing team. The seven cities targeted are New York, Chicago, Cincinnati, Denver, Minneapolis, Atlanta, and Los Angeles.

CEO Justin Behar (pictured) comments: 'With Quri, brands and retailers are equipped with incredible insights into physical retail conditions, which can have a huge impact on their sales. With this investment, our clients will see a major influx of new talent and technology over the next year that will no doubt continue to support our leadership position in retail intelligence technology'.

Web site: www.quri.com .

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