Retail SaaS Newsletter_June 2024

M&A and Fundraising News

Remark raises $10.3MM in funding

• Remark, a New York-based product guidance startup for online stores, raised $10.3MM in funding
• Remark aims to make online retail more personalized for online shoppers and more profitable for e-commerce brands
• Backers included Spero Ventures, Stripe, Shine Capital, Neo, Sugar Capital, and Visible Ventures
• The company intends to use the funds to expand operations, its business reach, and development efforts

Aisles closes Series A funding round, secures $30MM in additional capital

• Aisles, the innovative AI-driven retail technology company, announced the successful closing of its Series A funding round, raising an additional $30MM in capital
• The Series A round was led by prominent venture capital firms and attracted a diverse group of investors who recognize the transformative potential of Aisles' technology
• The company will use these funds to accelerate the development and deployment of its comprehensive AI ecosystem, which includes advanced navigation, biometric security, and personalized shopping assistance

OneStock announces $72MM investment to help brands unlock their full omnichannel potential

• OneStock SAS, a leading provider of Order Management Systems, announced a $72MM investment from global growth equity investor Summit Partners
• OneStock was founded in 2015 by CEO, Romulus Grigoras, and CTO, Benoit Baccot, to help retailers and brands navigate the increasing complexity of the omnichannel landscape and enhance overall customer experience
• This new funding will be used to fuel OneStock’s continued international expansion, particularly into the U.S. market, and to help accelerate the company’s vision for a retail landscape where order management is seamless and easy

Crisp announced the acquisition of Lumidata

• Crisp, the open data retail platform for the consumer goods industry, has announced the acquisition of two separate entities, SetSight and Lumidata
• Both companies are based in Minneapolis and work with retail agencies, brokers and consumer goods brands to provide sales and supply chain data to CPGs selling through Target, Best Buy, and other major retail chains
• Following Crisp’s recent acquisition of Bentonville, Ark.-based Atlas from Advantage Solutions, these latest deals allow Crisp to ingest and share retail data and insights with CPG brands looking to optimize inventory, merchandising and marketing

SPS Commerce pays $29MM to acquire retail cloud provider Traverse Systems

• Retail cloud network provider SPS Commerce has paid $29MM to acquire Traverse Systems, a SaaS platform that provides retailers and their merchandise suppliers with a unified view of supply chain performance
• The purchase included $25MM in cash and $4.3MM in SPS Commerce stock
• Traverse Systems provides scorecarding and vendor performance management solutions for retailers, driving supply chain efficiencies such as increased on-time and in-full shipments, enhanced inventory accuracy, greater visibility into inbound shipments, real-time disruption management, and improved invoice accuracy

Cin7 acquires Inventoro to expand analytics capabilities

• Cin7, a provider of inventory management software, has acquired Czech Inventoro, which uses AI for sales forecasting and replenishment
• The acquisition and integration of Inventoro’s capabilities with Cin7’s platform will extend product seller’s access to AI technology, enabling customers to enhance existing inventory and order management capabilities with intelligent predictions
• "Inventoro's AI forecasting and optimization capabilities are a perfect complement to Cin7's robust inventory management solutions," said Ajoy Krishnamoorthy, Cin7’s CEO. "Together, we'll provide customers with unprecedented inventory intelligence so they can maximize sales, minimize excess stock, and make informed decisions across their operations."

British payments group Epos Now explores possible stake sale, sources say

• British tech group Epos Now is exploring strategic options, including the sale of a minority stake in the business
• The Norfolk-based company, which provides retailers and hospitality businesses with payment processing tools and software and is seeking a valuation of as much as $1.5BN
• The company is targeting more than $100MM in turnover and $40MM in EBITDA this year

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