ORIX Growth Capital has completed a debt financing for RetailNext Inc., an industry-leading, SaaS-based retail analytics platform for tracking in-store shopper behavior. The platform combines patented sensor technology with best-in-class video analytics, Wi-Fi mobile detection, data from point-of-sale systems and other key sources of shopper behavior to help retailers better identify how consumers are interacting within their stores. RetailNext helps retailers gain visibility into customer demographics, traffic patterns, product performance and in-store customer journeys to ultimately inform decisions that will drive improved store sales and efficiency.
“We are excited to partner with the RetailNext team given their deep industry expertise and proprietary SaaS-based analytics platform, which is especially important in today’s brick and mortar retail landscape,” said Joel Gragg, Managing Director at ORIX Growth Capital. “RetailNext provides retailers actionable insights to help increase sales, reduce theft and eliminate unnecessary costs at the store level. The company’s overall traction and revenue growth over the past several years is a testament to their market-leading position. The company is currently working with hundreds of the most respected global retails brands across tens of thousands of physical locations.”
“RetailNext is pleased to be working with ORIX to support investments in our retail IoT smart store analytics platform and our continued company growth,” said Alexei Agratchev, CEO and co-founder of RetailNext. “In the past several years, there has been exponential growth in the deployment of IoT-powered retail analytics platforms, and as ORIX is a leading provider of capital to high-growth technology companies, we’re excited to be working with them as we expand upon our company’s market leadership position.”