Shelfbucks, which lets retailers analyze the performance of in-store displays, has rung up $9 million in new funding.
Founded in 2012, Austin-based Shelfbucks has developed mobile technology that brands and retailers integrate into product displays to measure and improve their performance.
The company says its real-time data and field alerts improve display performance by 20 to 30 percent, while decreasing excess inventory by 20 percent.
“Historically, retailers and brands lose billions of dollars in potential sales every year due to product displays that never reach shoppers, are executed at the wrong time or are not accurately measured to identify the greatest opportunities for additional sales,” said Erik McMillan, CEO of Shelfbucks. “We developed the Shelfbucks Measure platform to solve these industry-wide challenges with measurable accuracy.”
The company said it will use the funding to roll out its platform in drug and grocery store chains nationwide. Shelfbucks will be used to monitor hundreds of in-store merchandise display campaigns, the company said. It did not identify its customers’ names.
The company, which has 40 employees, said it received the funding from multiple retail industry veterans as well as existing investors. It did not identify the investors.
Shelfbucks previously raised about $11.5 million.
The deal is at least the third venture investment in an Austin startup this year. Last week, TrendKite, which helps clients gauge the effectiveness of their public relations, raised an additional $11 million to accelerate its expansion plans.
Snap Kitchen, which sells ready-made meals, juices and snacks to health-conscious customers, brought in $16.3 million.
Meanwhile, WP Engine, which provides hosting for WordPress-built websites, said last week that it has raised a whopping $250 million in private equity to fuel its growth.
WP Engine, which received the funding from Silver Lake, said it will use money to accelerate development of its digital platform and make an international expansion push.
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