Retailigence Secures $6.3 Million in New Funding to Fuel Expansion of its Online-to-Offline (O2O) Local Marketing & Commerce Platform for Brands and Retailers
Redwood City, Calif. – March 5, 2013 – Retailigence (www.retailigence.com), the leading Online-to-Offline (O2O) Local Marketing and Commerce Platform company, today announced $6.3 million in new funding to respond to growth in demand following its triple-digit revenue growth in Q4 2012.
Retailigence’s preeminent open O2O platform has proven to substantially enhance marketing and commerce performance for brands and retailers compared to traditional digital marketing approaches. O2O refers to any and all activity that originates online yet eventually results in a shopper going to a physical store. Forrester Research predicts that by 2016 more than half of the $3.5T spent in US retail offline will be influenced by the web. (Forrester’s US Cross-Channel Retail Forecast, 2011 To 2016.)
“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.”
Retailigence currently works with top retailers such as Home Depot and Nordstrom, as well as brands in the fashion, consumer electronics and CPG categories. The Retailigence retail network now covers 50 percent of U.S. retail sales. Leading brands and retailers rely on Retailigence’s O2O platform to convert mobile consumers into local shoppers with the following solutions:
• adPOP (Point-of-Purchase) – Ad solution that dynamically embeds Retailigence’s proprietary access to local store inventory data into hyperlocal mobile ad creative to improve local ad relevance and to guide shoppers along the local path-to-purchase. The solution has proven not only to increase awareness and engagement for brands, new products and retailers, but also tangibly increase sales.
• appNET – Commerce solution for retailers that helps hundreds of thousands of shoppers every day, using any one of the large and growing number of mobile application partners, find specific products and brands for instantaneous convenience.
“This type of real time product inventory data is the holy grail for mobile and local shopping,” said Michael Boland, Senior Analyst at BIA/Kelsey. “Given that the vast majority of retail spending happens offline at local physical stores, it can really close the loop on the increasing levels of shopping that’s influenced online and in mobile.”
Existing Retailigence investors DFJ, Quest, and Motorola Solutions Venture Capital participated in the Series B funding as well as new investors including Telenav (NASDAQ: TNAV), the leader in personalized navigation, and OPT, one of the largest digital ad agencies from Japan and Retailigence’s exclusive Japanese digital ad partner.
Brands looking to improve both traditional and ROI-oriented digital ad performance by an average 50% should contact Retailigence at email@example.com.
Retailers looking to capture the significant online-to-offline commerce opportunity that has demonstrated increased top-line revenue by as much as 10% should contact Retailigence at firstname.lastname@example.org.
Advertising solution providers and agencies that want to improve ad performance by adding local relevance should contact Retailigence at email@example.com.
Advertisers with Japan operations interested in taking advantage of the growing O2O shopping behavior trend in Japan should contact Retailigence Japan at Japan@retailigence.com
Retailigence is an Online-to-Offline (O2O) local marketing and commerce platform that utilizes brick-and-mortar inventory data obtained directly from retailers to turn online consumers into offline shoppers. Serving both retailers and brands, Retailigence distributes local store inventory-based advertising via its own network of location-based application partners, mobile ad networks, mobile ad exchanges, search providers and social networks. The result is an increase in both top-of-funnel awareness and bottom-of-funnel sales for brands, new products and retailers. Retailigence is a privately held company based in Silicon Valley backed by Draper Fisher Jurvetson, Motorola Solutions, Quest Venture Partners, Telenav, OPT and other leading investors. For more information, visit http://www.retailigence.com and follow us on Twitter at @retailigence.
Emanate PR for Retailigence