RetailNext Inc., a San Jose, CA-based provider of Applied Big Data for brick-and-mortar retail, closed a $15m Series C financing.
The round was led by new investor StarVest Partners, with participation from existing investors August Capital, and strategic investors Nokia Growth Partners and Commerce Ventures. In conjunction with the funding, Laura B. Sachar, General Partner, StarVest Partners, joined RetailNext’s Board of Directors. John Gardner, Managing Partner, Nokia Growth Partners (NGP), joined as Board Observer.
The company intends to use the capital to expand its development and marketing efforts and grow global operations in Europe, Asia/Pacific and Latin America.
Led by Alexei Agratchev, CEO, RetailNext delivers real-time analytics that enables retailers and manufacturers to monitor, collect, analyze, and visualize in-store data from a broad set of sources including video cameras, point-of-sale (POS) systems, Wi-Fi devices, and time and attendance applications.
The platform integrates with promotional calendars, staffing systems, and weather services to analyze how internal and external factors impact customer shopping patterns.