NXTP Labs led a US$1.5m investment in RetailApp, a Miami-based retail analytics platform, with participation from Indicator Capital, Alpha4 Ventures and others.
(Press Release) RetailApp has announced the closing of its $1.5 million Series A financing led by NXTP Labs. The funding round also featured Alpha4 Ventures and Indicator Capital, among other investors.
RetailApp’s innovative platform helps improve the performance of retail businesses by making key data available to every member of the retail organization, from the CEO to the sales teams at the store level.
With simple, actionable data, metrics, and performance charts, retail staff can make more informed, real-time decisions about sales actions, inventory, and operations.
With this capital injection, RetailApp will expand its sales and customer care teams, as well as strengthen its software platform and marketing capabilities. The investment will also enable the expansion of operations into new markets such as Mexico, one of the countries with the greatest potential in Latin America.
In Brazil, the company has an alliance with TOTVS, a leading technology company, as its exclusive Partner for the Brazil market, allowing RetailApp to offer solutions to tens of thousands of Brazilian retail customers. RetailApp’s portfolio of clients includes global companies such as Under Armour, Lacoste, Boticario, Natura, Osklen, and other Fortune 500 brands.
The company was founded by Carlos Lerena and Gonzalo Almada, entrepreneurs of Argentine and Uruguayan origin, respectively, both with extensive experience in major multinational companies in the retail and technology sectors.
“We are very excited to support the RetailApp team. We envision exponential growth with TOTVS in Brazil and other strategic partners in the region. We believe RetailApp has the potential to transform the way retailers make decisions, communicate internally, and incentivize their vendors” said Ariel Arrieta, co-founder and Managing Partner of NXTP Labs.
“The retail sector is eager to incorporate new technologies that streamline operations and we see enormous potential to fulfill that desire with RetailApp. Our customers love the intuitive navigation of the tool, and the availability of key business information in real time makes RetailApp indispensable for our customers’ operations,” said Gonzalo Almada, CEO of RetailApp.
RetailApp has a strong social commitment, and has developed a free training program for all sales teams who need to integrate the new knowledge of modern retail and technology applied to the business. RetailApp helps create a culture based on data and metrics to professionalize their tasks.