In-store retail execution platform provider Trax has completed a $64 million investment round led by an affiliate of private equity firm Warburg Pincus.
With the capital infusion, Warburg Pincus becomes the largest institutional shareholder in the company. Several of Trax’s existing investors also participated in this funding round. Trax will use the investment to drive growth within its core markets: the U.S., Europe, Latin America and Asia.
The platform is designed to provide in-store execution, market intelligence and data science solutions for retailers and CPG brands. Trax processes photos taken in-store to deliver granular store-level insights. By combining fine-grained recognition, machine learning and data collection, the platform builds a proprietary retail database designed to guide merchandising decisions.
Trax is headquartered in Singapore with a development team based in Israel and sales offices worldwide. The company has global market coverage with more than 6 billion product images indexed, in more than 1 million stores across 50 countries.