Nexite bags $67 million for tagging and tracking merchandise in stores
Nexite, whose Bluetooth tag and SaaS merchandise platform delivers real-time in-store sales intelligence aligned to customer behaviour, has raised $67 million in a Series C round of funding, and $100 million overall.
It plans to use both for R&D as well as to roll-out services to its first customers.
The funding round was led by Pitango Growth and Saban Ventures with participation from existing investors Battery Ventures, Intel Capital, Pitango First and Vertex Ventures.
“We’re providing complete transparency into the physical sales funnel and by doing so, we’re creating a lexicon for in-store intelligence to optimise sales per square meter based on customer engagement data,” says Anat Shakedd, Co-founder and CEO at Nexite.
“We’re introducing terms normally associated with e-commerce like abandonment, engagement and conversion into the physical realm. This type of data has never before been accessible and now it’s paving the way for retailers to navigate digital together with bricks and mortar commerce.”
Isaac Hillel, Managing Partner at Pitango Growth, comments: “The continuous flow of data from merchandise reinvents physical retailing into live digital solutions.”
“Nexite’s cutting-edge technology is gaining tremendous traction in the market. It’s clear that Nexite is creating a new, well needed category, and we are excited to continue from our initial investment with Pitango First through to this latest round.”
“Continuous data flow from merchandise and the resultant analytics are transformational for retailers globally,” adds Barak Pridor, Managing Partner at Saban Ventures,
“Nexite’s cutting-edge solution is driving significant commercial results that have never been achieved before in this space. We are very proud to be joining this incredible team on its journey.”
