SAN FRANCISCO, Oct. 14, 2015 /PRNewswire/ -- Quri today announced it has secured $17 million in Series C funding to increase technology development and accelerate sales and service expansion across the U.S. The new investment will help Quri rapidly expand in several U.S. markets – including New York City, Chicago, Cincinnati, Denver, Minneapolis, Atlanta and Los Angeles – to scale the successful 2014 launch of Quri's Retail Intelligence Platform. The company has raised $30 million to date, and equips consumer brands with unprecedented visibility and insights into their retail execution performance.
"For more than a century, brands and retailers have been blind to the $4 trillion dollars being spent annually on retail go-to-market and merchandising," said Justin Behar, CEO of Quri. "With Quri, they're 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."
Quri is expecting to continue its rapid growth over the next two to three years and will double staffing in sales, R&D and marketing. To support the company's expansion, two key executives have joined the leadership team. David Gottlieb, formerly with Market6, Netezza (now an IBM company), and Oracle Retail will lead Quri's Worldwide Sales & Customer Success teams. In addition, James Lamberti, formerly with comScore, InMobi, Clorox, and IRI will lead the company's Global Marketing team.
"We've seen Quri execute extremely well through the initial phases of its business plan and emerge as the clear leader in the space," said J.P. Whelan from Kern Whelan Capital. "This round of investment will support the next phase for Quri - rapidly scaling what has already been proven and built out by a top notch leadership team."
Kern Whelan Capital, the lead investor in this round, are joined by all previous investors of Quri including Matrix Partners, Catamount Ventures, and Simon Equity Partners LLC.
Quri is the market leader in Retail Intelligence Technology, transforming retail execution by providing real-time, store-level visibility into the performance of products and promotions in 150,000 retail locations across 6,000 cities. Procter & Gamble, Heineken, Unilever, Kraft, Nestlé, Johnson & Johnson, Tyson and 200 other global companies rely on Quri to help optimize the $4 trillion dollars spent annually on retail go-to-market and merchandising. Quri is powered by an innovative combination of big data analytics fed through mobile technology used by an on-demand retail workforce. For more information, visit http://quri.com.
North 6th Agency for Quri