RetailNext Snags $30M

In-store data analytics firm RetailNext has picked up $30 million in a financing round led by Nokia Growth Partners.

As of last year, the firm was tracking half-a-billion shoppers at 100,000 retail locations in 33 countries.  Its sensors are found in the full range of retail experiences, from the high end at Bloomingdales to the bargain brand ad Family Dollar.

In late 2013 the company acquired Nearbuy. That service allows shoppers free Wi-Fi; in exchange consumers allow retailers to track where the customer browses physically and online. The company made that deal for a litlle under $20 million

With the new funding, the firm plans to expand into Asia, Europe and Latin America.  Qualcomm Ventures, Tyco, and AMEX Ventures also participated in the recent $30 million round. Previous investors include August Capital, StarVest Partners and Commerce Ventures.

RetailNext is a pioneer in introducing eCommere data methods to real life shopping experiences. Today, the company focuses on crunching retailers’ so-called “big data”—drawing information from sources like video surveillance, Wi-Fi tracking, POS systems and credit card transactions, among others.  The service also tracks outside factors such as weather, to see how it affects retail performance.

 

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