SAN JOSE, Calif., April 15, 2015 /PRNewswire/ -- RetailNext, Inc., the worldwide market leader for in-store retail analytics, today announced the company has secured an additional $125 million in growth funding. RetailNext plans to use the new funding to accelerate growth in new markets, further strengthen the company's presence in North America, Europe and Asia, and pursue relevant strategic acquisitions.
The deal brings the total capital secured by RetailNext to $184 million, and further establishes the company as the clear leader in the in-store retail analytics industry, with more than 160 retail customers and new store deployments growing at a rate of nearly 1,000 stores per month.
"RetailNext is the industry standard for in-store analytics," said Alexei Agratchev, founder and chief executive officer of RetailNext. "No other company in the sector comes close to delivering the depth of innovations in our patented products, the size of our global retail installation base, or our annual revenue. This financing represents another important step forward in building RetailNext into one of the biggest and best retail analytics software companies in the world. It extends our world-class retail solutions team and the unique benefits we deliver to customers, and affords us the flexibility to aggressively evaluate acquisition opportunities."
Activant Capital Group led the round, with all major existing investors participating, including August Capital, StarVest Partners, Nokia Growth Partners, Commerce Ventures, American Express, Pereg Ventures and Qualcomm Ventures, along with new investor Siguler Guff & Company. Activant's founder, Steve Sarracino, joins the RetailNext board of directors effective immediately.
"RetailNext radically redefined the in-store analytics space in 2007," said Sarracino, "and Activant Capital Group sees explosive growth driven by technology that enables retailers to reinvent the in-store experience and complete the puzzle of a seamless omnichannel brand across stores, online, and mobile. We are excited to serve as a catalyst to RetailNext as it extends its leadership position during this period of massive growth for this sector of the retail technology landscape."
In addition to RetailNext's plans for aggressive market growth, the company plans to use the additional funding to:
- Continue its rapid organic growth and global expansion of operations in Europe, Asia/Pacific rim, Latin America and emerging markets across the globe
- Extend the capabilities of its Software-as-a-Service (SaaS) platform through extensive investment in research and development, including expanding engineering resources and broadening platform capabilities with innovative, new in-store location and predictive analytics technologies
- Aggressively pursue relevant add-on acquisitions to further its competitive advantage and value proposition to retail customers.
The first technology platform to bring e-commerce style shopper analytics to brick-and-mortar stores and malls, RetailNext enables retailers to collect and correlate data from the broadest available set of data sources. Over 160 retailers and brands worldwide have adopted RetailNext solutions to glean the insights necessary to improve customer experience, increase same-store sales, reduce theft and eliminate unnecessary costs.
RetailNext measures the behavior of more than one billion shoppers per year by collecting data from tens of thousands of sensors in retail stores and analyzing trillions of data points annually. Headquartered in San Jose, California, RetailNext is a growing global brand operating in 40 countries. For more information, please visit www.retailnext.net.
RetailNext Inc. and RetailNext are trademarks of RetailNext Inc. in the United States.
SOURCE RetailNext, Inc.