Funding to Support International Expansion, Market Consolidation in the Retail Execution Management Space
Mountain View, CA – Retail Solutions Inc., the leading solution provider helping consumer packaged goods (CPG) companies create value from operational downstream data, today announced it has secured a Series C round of $15.2 million in funding led by new investor Investor Growth Capital.
Investor Growth Capital is the growth-stage venture capital arm of Investor AB, the largest publicly traded investment holding company in Northern Europe with investment activities in North America, Europe and Asia. All existing investors, Venrock, Bessemer Venture Partners, Red Rock Ventures and SAP Ventures, also participated in the round. The company will use the financing to accelerate international growth and look for acquisition opportunities to further consolidate its market leadership.
“Retail Solutions has grown very fast in the last few years and has become the uncontested leader in the Retail Execution Management and downstream data spaces,” said Jonathan Golovin, Chairman and Chief Executive Officer, Retail Solutions. “Many of our customers are now extending their early implementations to international, corporate-level roll-outs. This new round will help us accelerate international growth and provide our customers the assurance that Retail Solutions will be a global, long-term, strategic partner to them. We selected Investor Growth Capital in order to leverage their long-established global platform and deep relationship network in Europe and Asia.”
Retail Solutions provides a unique Software-as-a-Service (SaaS) platform transforming downstream data, such as point-of-sale and inventory data by store, by day and by SKU into value-added visibility and actionable insights to help CPG companies transform the way they work with retailers. Today, more than 350 CPG companies, including 20 of the top 25 global CPG companies, trust Retail Solutions to support their Retail Execution Management projects across more than 30 international retailers.
“Retail Solutions is well positioned for success in the years to come,” commented Noah Walley, Managing Director of Investor Growth Capital. “The company has built successful relationships with most of the largest companies in the industry and is driving real awareness for the value that can be unlocked by retailers and consumer packaged goods manufacturers who jointly collaborate on downstream data. The management team has proven its ability to both generate sustained organic growth and successfully integrate acquisitions. We are very enthusiastic to be leading this new round of funding.”
As part of the round, Walley will join Retail Solutions’ Board of Directors.
“We are now in a great position to consolidate a fast-growing market,” added Peter Rieman, Executive Vice-President, Retail Solutions. “Retail Solutions has already achieved financial stability, with a positive net income each and every month of 2010 while growing at a 40% pace. This new funding will enable us to accelerate the pace of acquisitions to complement our organic growth and strengthen our International market leadership in the Retail Execution Management space.”
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