Retail Solutions Inc., a Mountain View, CA-based provider helping consumer packaged goods (CPG) companies create value from operational downstream data, has secured a Series C round of $15.2m in funding.
The round was led by new investor Investor Growth Capital, with participation from existing shareholders Venrock, Bessemer Venture Partners, Red Rock Ventures and SAP Ventures.
The company intends to use the capital to accelerate international growth and look for acquisition opportunities to further consolidate its market leadership.
Retail Solutions provides a Software-as-a-Service (SaaS) platform helping CPG companies turn downstream data, such as point-of-sale, supply chain, merchandiser feedback and customer loyalty data, into value-added visibility and actionable insights.
More than 350 CPG companies, including such as 3M, Abbott, Bausch & Lomb, Bayer, Colgate-Palmolive, Clorox, Heineken, HP, Kao Brands, Kraft, Nestlé, Novartis, Procter & Gamble, Reckitt-Benckiser, Schering-Plough Corp. and Unilever, currently use Retail Solutions to grow retail sales, maximize in-store operation productivity, plan and execute more effective promotions, reduce costs and join efforts with retail partners to improve shelf availability and consumer satisfaction.
In conjunction with the funding, Noah Walley, Managing Director of Investor Growth Capital, will join the company’s board of directors.