ThirdChannel, a Cambridge, MA-based retail intelligence platform provider, closed a $7m Series A funding round.
The round was led by Fung Capital.
The company intends to use the funds to expand the presence of its real-time platform across key markets.
Led by Gina Ashe, CEO, ThirdChannel provides a retail intelligence platform that pairs a full data collection and analytics solution with an experiential network-for-hire for brands and retailers to get visibility into what’s happening – or should be happening – in physical stores and to take action to meet consumer demands.
The company’s platform unifies all the behavioral and operational data points from the store ecosystem into a decision-making and communications dashboard. A brand’s field team or retailer’s store associates can provide a continuous feedback loop from the store floor and have that feed into action plans that incorporate product demand, merchandising successes, inventory levels, weather impact, store traffic patterns, and other essential data.
ThirdChannel also enables brands and retailers to strengthen their teams in store by tapping into an on-demand network-for-hire of over 100,000 team members who compete to represent brands and product categories based on their passion and experience. Customers grow their teams, even for a short period, with dedicated operatives who act as ambassadors, sales trainers, visual merchandisers, field intel and marketers that are equipped to bring brands and products to life for consumers. Field agents can be contracted, trained, scheduled and paid through the platform, with full customer support services available.