Retailigence Corporation strives to bridge the gap between intent- driven mobile shoppers and relevant retailers. The company covers the last mile of the retail supply chain by connecting demand from consumers to supply from brick and mortar stores. Using an open API (Application Programming Interface), Retailigence provides real inventory data to any mobile or web application on any mobile OS. The location-enabled data represents the current, actual product availability in-store, so consumers have better visibility into stores and product availability within their vicinity, as well as price and current promotional sale information.
Team:
Based in Palo Alto, Califormia, Retailigence is funded by Silicon Valley venture capital firms including Draper Fisher Juverston, Quest Ventures and 500 Startups LLC. Founder and CEO Jeremy Geiger previously served as Managing Director and Board Member of Real-Time Technology Asia-Pacific, where he grew revenue 1,000% and built the organization from 0 to more than 50 employees in less than four years.
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CTO Kevin Dugan has worked at Oracle and RIM, as well as small high-tech startup companies. As the first member of the technology team at StepUp Commerce Inc., Dugan grew the company to an eventual $60 Million exit. Prior to working at StepUp, Dugan managed and led the e-Commerce technology project at Handspring.
COO Andy Berschauer spent 18 years at Accenture prior to joining Retailigence. He most recently served as Senior Executive running the strategic go-to-market relationship with Microsoft in the UK and Ireland. As a consultant, he led programs ranging from Supply Chain Management to Partner Programs to Customer Care.
Market Relevance:
More often than not, customers who make in-store purchases will walk out with more than just the one item they had initially sought. Local businesses spend approximately $60 billion to generate foot traffic and sales, yet are increasingly forced to compete with online retailers. Mobile and web consumers represent virtually every person in the U.S. between the ages of 20 and 50, and these individuals are price-savvy and increasingly expect immediate satisfaction.
Delivery:
Retailers including Best Buy and Ace Hardware share their data and have it automatically distributed to Retailigence’s partner apps and web sites. Retailigence has developed connectors and plug-ins for several of the leading ERP and inventory management systems. Using these pre-built connectors, retailers can send data to Retailigence and ensure reliability of an existing system. There are no additional infrastructure requirements. When a retailer’s information is in the Retailigence core system, it is normalized and then served up to a community of partner mobile applications and web sites. Retailigence uses a performance-based pricing model.
Proof Points
According to Jupiter Research, $917 billion in retail sales last year were “web influenced.” Retailigence was awarded the “Best in Show” award at the Under The Radar conference in November 2010. Retailers have found success by leveraging location-based targeting from Retailigence. “The ability to publish local results for the brands and products we stock will enable us to better reach our customers, and in turn help our customers shop more locally and efficiently, knowing exactly what we have in stock in real time,” said Eric Hassett, a small business owner in Palo Alto, California.
