HEROFi, a San Diego, CA-based revenue optimization company for physical retail, completed a convertible debt financing of $3.5m.
The company intends to use the funds to continue to expand its Guest Experience Platform (GXP).
The financing included a number of angel investors including:
– Jeff Vinik, the current owner of the Tampa Bay Lightning, and the former manager of Fidelity Magellan Fund and hedge fund Vinik Asset Management;
– Rob Soni, a former partner at Matrix and Bessemer Ventures; and
– John McDonnell, Managing Director International, Fifth Generation Spirits, Inc.
Founded in 2014 and led by Vladimir Edelman, Chief Executive Officer, HEROFi specializes in using its intelligent orchestration platform to drive revenue through real-time product packaging and pricing. Clients use real time data – such as sales, inventory, weather, traffic and more – to create consumer in-store experiences. In addition to its current client base of companies in the restaurant (Buffalo Wild Wings), gaming (Pechanga), and shopping mall (Westfield Malls) industries, the company is close to completing agreements with major footwear and QSR companies as well as with a leader in the casino sector.
Its Guest Experience Platform (GXP) is already available in over 1,300 retail locations in 8 countries.