RetailNext, a provider of in-store analytics solutions, has raised $30 million in growth equity financing.
The investment round was led by Nokia Growth Partners, with additional funding provided by American Express, Activant Capital Group, Tyco and Qualcomm Ventures, and current shareholders August Capital, Commerce Ventures and StarVest Partners. To date, RetailNext has raised $59 million in total capital.
RetailNext allows brick-and-mortar retailers to collect and compare insights from large sets of data sources. With more than 140 retail customers worldwide and new store deployments growing between 400 and 1,000 per month, the company will use the funding to expand globally, invest in research and development, and continue to improve its in-store location and predictive analytics technology.
“During this rapid expansion for RetailNext, we have carefully chosen investors who can help bring competencies to our business and are leaders within their industries, including payments, loyalty, in-store location, inventory and security technologies,” said Alexei Agratchev, Founder and CEO of RetailNext. “We are privileged and proud to have them as investors and shareholders.”