San Jose, CA-based in-store big data analytics specialist RetailNext has completed a $30m round of financing, which it will use to expand operations in Europe, Asia Pacific, Latin America and other, emerging markets.
RetailNext measures the behaviour of more than one billion shoppers each year using more than 65,000 sensors situated in brick-and-mortar retail stores and malls, and analysing trillions of data points annually.
New funding was led by Nokia Growth Partners (NGP), with participation from Qualcomm Ventures, Tyco, American Express, new investor Activant Capital Group, and existing shareholders August Capital, StarVest Partners and Commerce Ventures. The latest investment, which brings the total funds raised to $59m, including $15m secured last year, will also be used for R&D, including expanding engineering resources and broadening platform features, and for continued development of in-store location and predictive analytics technologies.
Alexei Agratchev (pictured), founder and CEO, comments: 'This round of financing further validates the tremendous growth of our business, our world-class team and the unique platform we deliver to customers. We have carefully chosen investors who can help bring competencies to our business and are leaders within their industries, and we are privileged and proud to have them as investors and shareholders.'
Web site: www.retailnext.net .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.