Retail Analytics Firm Quri Nabs $10m

San Francisco-based retail intelligence specialist Quri has raised $10m in a Series B round of funding, which it plans to use to meet growing demand for its in-store analytics.

Launched last year, Quri employs a nationwide network of mystery shopping consumers who measure in-store issues - such as how products are displayed 'on-shelf', or whether items are being displayed at the advertised discounted price - and report back through their mobile devices. Brands then access this feedback through an online dashboard and they can drill down to store level issues which are then flagged through a newly launched, real-time alerting system called 'Quri Agile'.

The new funding has been led by Matrix Partners, along with previous investors Catamount Ventures and Simon Equity Partners, which together led Quri's $4.25m Series A round. The new investment will also be used to hire engineers, designers, product managers, and staff for customer-facing roles.

Founder and CEO Justin Behar (pictured), who previously worked as an analyst at Gartner, comments: 'The completion of our Series B funding is timed perfectly to meet the growing demand for in-store analytics, as brands and retailers seek new ways to address persistent retail execution problems. With the release of Quri Agile, brands can significantly reduce these problems early in a promotion's selling cycle, recovering significant lost revenue.'

Web site: www.quri.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.