It takes lots of time to walk around a store and change all of those price tags.
The San Jose, California-based Altierre Corp. makes digital product-labeling system that connects back to a retailer’s pricing systems via low-power wireless technology.
This enables a retailer to change the prices of goods around the store quickly. A store manager could quickly put a sale price on a certain products.
The system also shows the retailer when items need restocking and the temperature, lighting, and customer traffic around products.
The technology has some well-monied believers. Altierre announced today that it had secured $21 million in new funding. A couple of new investors, Stratim Capital and D.E. Shaw & Co., led the round while existing investors ATA Ventures, DuPont Capital Management, Labrador Ventures, and Kinetic Ventures also participated.
This late-stage funding brings the company’s total up to $80 million since Altierre got its start in 2003.
Altierre is a leading provider of wireless dynamic pricing solutions for large retail chains. Implementing price changes is a multi-billion dollar problem for retailers around the globe. Alt... All Altierre news »