RetailNext – a leader in smart store analytics for optimizing store experiences – announced a strategic majority growth investment from Battery Ventures. This investment will support the expansion of RetailNext’s international team, accelerate product innovation, and provide significant capital for acquisitions.
This strategic growth investment comes during a period of rapid expansion for RetailNext, which has scaled to 100 countries and averaged 1,200 installations in physical retail shops monthly. Plus, RetailNext has grown its customer base to 560 retail brands and introduced key solutions like theft prevention analytics and predictive traffic forecasting.
Since being founded in 2008, RetailNext has empowered retailers like Macy’s, Estee Lauder, Ulta, The Vitamin Shoppe, Bloomingdale’s, Boggi Milano, UntuckIt, Kendra Scott, Allbirds, Casper, Hurley, Daniel’s Jewelers, Faherty, On, Sharaf DG, KEH, Deciem, Mizzen+Main, Adore Me, Catch Co., Trek, etc. to optimize in-store performance and deliver insights into store performance, security, and compliance at scale.
Using proprietary sensors and real-time data, RetailNext provides actionable insights to enhance understanding of customer behavior, streamline operations, and elevate the shopping experience.
This funding will enable RetailNext to further support retailers in strengthening their omnichannel strategies by integrating physical and digital data. And with tools designed to deliver personalized and seamless shopping experiences, RetailNext helps retailers adapt to changing shopper needs and discover new growth opportunities.
Houlihan Lokey served as advisors to RetailNext on this deal.
KEY QUOTES:
“Exciting retail is alive, and we’re proud to partner with ambitious brands investing in better in-store experiences. This investment allows us to enhance our platform, acquire complementary technologies, and deliver the real-time insights modern retailers need to succeed in today’s market.”
– Alexei Agratchev, co-founder and CEO of RetailNext
“RetailNext stands out for its technology and deep understanding of the challenges retailers face today. We see a unique opportunity to build on their success and are excited to partner with such an innovative team to help drive their next growth phase.”
– Russ Fleischer, General Partner at Battery Ventures; As part of the deal, Fleischer, along with Battery Principal Roland Anderson and Vice President Dawit Workie, are joining RetailNext’s board.
