Retail Management Software Company CitiXsys Raises $60 Million In Funding

By Dan Anderson ● November 9, 2019
  • Retail management software company CitiXsys has announced it raised $60 million led by Goldman Sachs Merchant Banking Division (MBD).

Retail management software company CitiXsys announced it raised $60 million in funding led by Goldman Sachs Merchant Banking Division (MBD).

CitiXsys’ software platform is called iVend Retail, which is a leading provider of integrated omnichannel solutions for the retail and hospitality industries used in over 95 countries. The iVend Retail enables medium to large enterprise businesses for delivering seamless customer experiences with end-to-end retail management systems.

“CitiXsys today readily enables businesses to meet shopper expectations on the front-end, while providing users on the backend with the streamlined processes and access to data that drives business growth. The next milestone for us is to offer complete infrastructure and application management to all retailers worldwide, so they can join the next phase of digital transformation in retail,” said Kamal Karmakar, CEO of CitiXsys. “I am delighted to work with Goldman Sachs MBD in this next chapter of growth and expansion of the business, including as we look for strategic acquisition targets that complement our existing offer.”

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As the global retail outlook is improving, leading companies are positioning themselves to capture sales by embracing a new form of retail — which involves a hybrid business between physical and digital experiences that reduces the barriers for the customers who can their omnichannel purchase methods.

Some of CitiXsys’ customers include Samsonite, Vodafone, MTN Telecom, Virgin Mobile, The Body Shop, Asics, Kazyon, The Vitamin Shoppe, Goodwill Industries, and Havaianas.

As the global retail outlook is improving, leading companies are positioning themselves to capture sales by embracing a new form of retail — which involves a hybrid business between physical and digital experiences that reduces the barriers for the customers who can their omnichannel purchase methods.

CitiXsys solutions were designed to deliver on this by enabling retailers to compete in any sales channel and provide the personalized and consistent experiences customers have come to expect today with integrated capabilities for sales, promotions, in-store and mobile Point-of-Sale transactions and customer relationships, and analytics.

CitiXsys has built alliances with Sage, SAP, Microsoft, Magento, and several others as part of an overall platform strategy. Plus it offers certified connections via Open APIs to enterprise resource planning and other third-party customer-facing solutions so retailers have the right tools for responding quickly to rapidly changing market dynamics.

“We are excited to invest in CitiXsys and to be a part of the Company’s continued growth. Their innovation adds value for retailers around the world with a best-in-class solution,” added Terence Doherty, Managing Director at Goldman Sachs Merchant Banking Division.