RetailNext, making brick-and-mortar a little more like e-commerce, raises $30M

Above: A RetailNext marketing video shows a visualization of how retailers can identify and track likely shoppers.

Image Credit: RetailNext video

RetailNext, a company that specializes in providing data analysis tools to real-world retailers, has raised a $30 million late-stage round of investment.

This is the company’s fourth round of funding, bringing its total capital raised to $59.4 million.

Nokia Growth Partners led the new round, which included investments from Qualcomm Incorporated (through its venture investment group, Qualcomm Ventures), Tyco, and American Express. The round also included new investor Activant Capital Group and existing shareholders August Capital, StarVest Partners, and Commerce Ventures.

The company says that it provides e-commerce-style metrics for brick-and-mortar stores using sensors that track the physical activity of actual human shoppers. It counts 140 companies in 40 different countries as its customers, and says it is adding 400 to 1,000 new stores to its analysis every month. So far it has installed 65,000 sensors around the world, which it claims enable it to track over 1 billion human shoppers every year.

The sensors include video cameras, point-of-sale systems, payment cards, weather sensors, and even guest Wi-Fi networks. So the next time you log into that coffee bar’s free Wi-Fi, just remember: It may be logging your presence in order to help the shop figure out how to sell you more lattes.

The company plans to use its new funds for product development, R&D, and to expand its operations in Europe, the Asia/Pacific region, Latin America, and other emerging markets.

RetailNext is based in San Jose, Calif.

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Lee White
Lee White

Cheri Thomas hmmm sounds familiar...

David Tyler
David Tyler

Good to see how technology is changing the face of retail industry. Retailers that think ahead, innovate will stay ahead . With consumer demand increasing, retailers that capture the consumers imagination will be in a position to capitalize in the near future. I work for McGladrey and thought this conversation aligns well with a white paper that was created on this subject, if your readers are interested in it.@ “ The one constant in retail is change”