New Majority Investor for RetailNext

In California, smart store analytics solutions firm RetailNext has announced a strategic majority growth investment from Battery Ventures, and aims to expand its international team, accelerate product innovation and pursue acquisitions.

RetailNext was founded in 2008 and uses proprietary sensors and real-time data to automatically collect and analyze shopper behavior data. Clients are major retailers looking to optimize and understand bricks-and-mortar in-store performance, and track security and compliance across their locations. Just over two years ago the firm acquired Ipsos' people-counting and footfall solution Retail Performance, with the global research firm taking a minority stake. Of late, it has been expanding rapidly, with an average of 1,200 store installations per month in 2024 - it now boasts 560 customers in 100 countries.

'Exciting retail is alive, and we're proud to partner with ambitious brands investing in better in-store experiences' says co-founder and CEO Alexei Agratchev. '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'. Battery Ventures General Partner Russ Fleischer will join RetailNext's board alongside Battery Principal Roland Anderson and VP Dawit Workie, and comments: 'RetailNext stands out for its technology and deep understanding of the challenges retailers face today. 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'.

The amount of the deal was not disclosed. The company is headquartered in Campbell, California and is online at www.retailnext.net .