RetailNext, a global leader in smart store analytics for optimizing store experiences, announced a strategic majority growth investment from Battery Ventures, a global technology-focused investment firm. The investment will support the expansion of RetailNext’s international team, accelerate product innovation, and provide significant capital for acquisitions.
The strategic growth investment comes during a period of rapid expansion for RetailNext, which has scaled to 100 countries and, in 2024, averaged 1,200 installations into physical retail shops per month. Recognized in 2024 as one of Fast Company’s Most Innovative Companies in the Retail Category, RetailNext has grown its customer base to 560 retail brands and introduced key solutions like theft prevention analytics and predictive traffic forecasting.
Since its founding in 2008, RetailNext has empowered retailers like Macy’s, Estee Lauder, Ulta, The Vitamin Shoppe, Bloomingdale’s, Boggi Milano, UntuckIt, Kendra Scott, Allbirds, Casper, Hurley, Daniel’s Jewelers, Faherty, On, Sharaf DG, KEH, Deciem, Mizzen+Main, Adore Me, Catch Co., Trek and more to optimize in-store performance and deliver best-in-class insights into store performance, security, and compliance at scale. Leveraging proprietary sensors and real-time data, RetailNext provides actionable insights to enhance customer behavior understanding, streamline operations, and elevate the shopping experience.
“Exciting retail is alive, and we’re proud to partner with ambitious brands investing in better in-store experiences,” said Alexei Agratchev, co-founder and CEO of RetailNext. “This investment allows us to enhance our platform, acquire complementary technologies, and deliver the real-time insights modern retailers need to succeed in today’s market.”
“RetailNext stands out for its technology and deep understanding of the challenges retailers face today,” said Russ Fleischer, General Partner at Battery Ventures. “We see a unique opportunity to build on their success and are excited to partner with such an innovative team to help drive their next growth phase.” As part of the transaction, Fleischer, along with Battery Principal Roland Anderson and Vice President Dawit Workie, are joining RetailNext’s board.
This investment will enable RetailNext to further support retailers in strengthening their omnichannel strategies by integrating physical and digital data. With tools designed to deliver personalized and seamless shopping experiences, RetailNext helps retailers adapt to changing shopper needs and discover new growth opportunities.
Learn why leading retailers worldwide trust RetailNext as the de facto platform for in-store traffic and conversion analytics at RetailNext.net.
Houlihan Lokey served as advisors to RetailNext on this transaction.
About RetailNext
RetailNext, the first retail vertical IoT platform to bring e-commerce-style shopper analytics to brick-and-mortar stores, brands, and malls, is a pioneer in optimizing the shopper experience. The platform automatically collects and analyzes shopper behavior data through its centralized SaaS solution, enabling retailers to enhance real-time experiences and drive better outcomes.
Recognized in 2024 in Fast Company’s Most Innovative Companies in the Retail Category, RetailNext is trusted by more than 560 retailers in over 100 countries. The company helps businesses better understand the shopper journey to increase same-store sales, reduce theft, and eliminate unnecessary costs. RetailNext is headquartered in Campbell, California. Learn more at retailnext.net.
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