Retail analytics specialist Retency has secured EUR5 million in financing from Truffle Capital, a European venture capital firm, which will be used to accelerate the company's development and boost its R&D activities.
Founded in 2014, Retency provides physical retailers with analytics, marketing and advertising solutions equivalent to those used by their e-commerce counterparts, allowing them to gain insights on shoppers' behavior in their stores and optimize their on- and off-line marketing.
Retency products have already been adopted by leading retailers in the cultural, clothing, leisure, DIY, cosmetics, grocery and automotive sectors.
Bernard-Louis Roques (pictured), Co-Founder and General Partner of Truffle Capital, says: "Retency has developed a range of innovative technologies combining cutting-edge know-how in terms of hardware, software and Big Data to provide physical retailers with analytical tools comparable to those used by online retailers. We're convinced that Retency, whose founders combine particularly sharp technical skills with strong commercial experience, is positioned to become a major player in this extremely high-growth potential sector."
Isabelle Bordry, Co-founder of Retency, says: "We are particularly proud to receive the support of an investor as prestigious as Truffle Capital, recognised for its strong technological expertise and early investments in some of the sector's most innovative companies. Thanks to this first investment, we will be able to accelerate our development and strengthen our offer. Gaining insights on shoppers' behaviour in their stores and developing the ability to optimise advertising campaigns are absolutely strategic issues for brick-and-mortar retailers if they want to compete with the expanding e-commerce industry."
