RetailNext Boosts Singapore Operations

In-store shopper analytics firm RetailNext Inc. has continued its growth in the Asia-Pacific region with a partnership in Singapore; and announced further investment, also from a company headquartered in the island state.

San Jose, CA-based RetailNext was founded by current CEO Alexei Agratchev (pictured), and offers 'e-commerce style shopper analytics to brick-and-mortar stores, brands and malls', using a centralized SaaS platform which collects and analyzes shopper behavior. More than 300 retailer clients in over 60 countries use the service to understand shoppers, increase sales, reduce theft and bring down costs. Last October, the firm bought mobile marketing personalization software firm Pikato for an undisclosed sum, and a year ago it hired former Nielsen SVP Kindra Tatarsky in the new role of Head of Corporate Development.

The latest funds, a strategic equity investment of unknown size, come from Singapore-based technology investor EDBI. RetailNext co-founder and CEO Alexei Agratchev says the new investor brings 'deep understanding of the Singapore and APAC regional operating environment' as well as extensive technology expertise and industry knowledge.

The firm has also partnered with Asia-Pac based Newstead, which operates the @Notebook chain of IT concept stores across Singapore. Sin Hin Wong, head of APAC at RetailNext, comments: 'RetailNext is strategically focused and committed to delivering its IoT solutions to retailers in the rapidly expanding Asia-Pacific region. Store deployments have grown over 300 percent in the last twelve months, and the expansion opportunities have led RetailNext to more than double the size of its regional offices headquartered in Singapore'.

Web site: www.retailnext.net .