Update at 10:00 a.m. Pacific Time: Update with the companies’ combine valuation and projected revenue, and founding team.
As much as Amazon and other online mega-retailers are gaining popularity, we still shop a whole lot in brick-and-mortar stores, and retailers are increasingly looking to optimize those instances.
Today, Brickstream, a 14-year-old company that makes sensors and software to help retailers track and analyze shoppers, announced it has acquired two-year-old startup Nomi in an all-equity deal at undisclosed terms, although the combined companies are now valued at $200 million with a projected revenue of $50 million for next year, according to a source with knowledge of the matter.
Nomi provides a wide range of in-store tools for retailers, a bit like selling Estimote’s iBeacon sensors, Rover’s mobile app software development kit, Privy’s online-to-offline attribution tools, and more all from one vendor. Brickstream, on the other hand, sells software and sensors that are mainly focused on store traffic, reducing long lines, and traffic mapping.
Uniting the two companies’ complementary products will undoubtedly yield a full-service vendor for in-store tracking and analytics. Moreover, while Nomi is fairly young, Brickstream’s decade and a half in business have seen it install more than 100,000 sensors via more than 50 channel partners in 65 countries.
But Nomi is bringing compatibility with iBeacon, a Bluetooth low-energy proximity-sensing technology from Apple that’s been garnering a lot of attention and popularity lately. Brickstream’s sensors are not iBeacon-based.
The companies compete with others including Euclid and Swarm Mobile.
Nomi was founded by Wesley Barrow, Corey Capasso, and Marc Ferrentino and has raised $13 million in funding. Brickstream raised an undisclosed amount of debt financing from Trinity Ventures in July and $8.7 million in funding in April.