RetailNext partners with Colbeck on $42M growth facility
Strong performance in Q1 has made us even more confident that the company will continue to grow and innovate. - Jason Colodne, Co-Founder of Colbeck Capital
SAN JOSE, Calif. - May 7, 2021 - Today, RetailNext Inc., the worldwide expert and market leader in smart store retail analytics for optimizing shopper experiences, announced a $42 million growth capital financing with Colbeck Capital Management. This investment positions the company for continued acceleration in its implementation of retail data infrastructure following a record Q1 in 2021.
"There is no question that the pandemic accelerated the need for retailers to have more precise and reliable data on the real-time condition of their stores. We have seen this need for data accelerating through last year and particularly now that many restrictions are lifting, and our customers are looking to the future. 2020 was obviously a tough year for brick-and-mortar retail, but we are encouraged by the strong rebound underway. We are poised for strong growth this year following an outstanding Q1. We are grateful to have Colbeck on board as partners and thrilled that they see the potential in our growth," said Alexei Agratchev, CEO and Co-founder of RetailNext.
"We are always looking for investment opportunities where we are able to make an impact. We saw a gap in the market during COVID and RetailNext clearly established themselves as a leader in retail analytics," said Jason Colodne, Co-Founder of Colbeck Capital. "Their strong performance in Q1 has made us even more confident that the company will continue to grow and to innovate."
About Colbeck Capital Management
Colbeck Capital Management is a strategic lender that partners with companies during periods of transition, providing creative capital solutions to meet their evolving needs. Founded in 2009 by Jason Colodne and Jason Beckman, Colbeck's principals have over 75 years of experience managing credit investing businesses and have underwritten over $22B of total loan volume. Colbeck Capital has offices in New York City and Los Angeles.
The first retail vertical IoT platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience real time.
More than 450 retailers in over 85 countries have adopted RetailNext's analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, eliminate unnecessary costs and mitigate liability risks. RetailNext is headquartered in San Jose, Calif.
Learn more at www.retailnext.net.