Silicon Valley graduate, Retailigence announced today they have secured $6.3 million in new funding. Contributing to the series B round are existing investors DFJ, Quest, and Motorola Solutions Venture Capital, as well as new investors, Telenav and OPT, a major Japanese digital ad agency.
According to the Retailigence blog, the round is “to respond to growth in demand following its triple-digit revenue growth in Q4 2012”. This last year marked significant milestones for Retailigence, as the startup established partnerships with major brands such as Nordstrom, Best Buy, Radio Shack, Home Depot, and The North Face. The Redwood City based startup connects retailers and brands to consumers with high purchase intent, and boasts some fairly impressive return on investment.
“Mobile devices such as smartphones and tablets have dramatically changed the way shoppers interact with brands and retailers,” said Jeremy Geiger, founder and CEO of Retailigence. “Brands and retailers are adopting new path-to-purchase strategies to capitalize on these trends, and that’s where Retailigence comes in. With Retailigence, marketers can alert shoppers on their mobile devices exactly when a particular product is available and indicate where it can be purchased at the closest retail location, increasing in-store sales to the benefit of both product brands and retailers.”
The company says brands looking to improve ROI can expect their digital ad performance to increase by an average of 50 percent and top-line revenue by as much as 10 percent with Retailigence’s O2O platform. To learn more, see the company’s press release here.
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