Retail Aware has announced the completion of an early stage funding round – receiving dollars from both angel and strategic investors.
Retail Aware is a developer of business intelligence software and hardware designed to help brands maximize every opportunity in the aisles.
The company collects data intelligence through its patent pending micro sensors. These sensors can be attached to product displays to track how many people walk by (footfall), how long they dwell, how many times product is picked up, environmental factors such as temperature and more.
The solution is camera-less and does not collect any personal identifying information. Retail Aware then applies machine learning to the data and delivers actionable insights back to its customers via reports in its portal, or API.
CEO, Keith Fix stated, “Retail Aware is empowering the future of connected retail by enabling brands, retailers, and out of home to leverage plug & play sensors to measure execution in real time. This funding round allows us to pursue even greater integration into retail environments, solving our client’s most pressing needs in today’s competitive retail landscape. We’re thrilled to be backed by strategic partners who share in our vision.”
The company’s raise is believed to be the first matched funding from the Omaha Startup Collaborative’s (TSC) gift from Chris Murphy of First Westroads Bank. Erica Wassinger, the leader of the Omaha Startup Collaborative (TSC) said about the funding: “Retail Aware is a great example of TSC’s methodology at work! Great role coverage on the team. Strong early product-market fit. And a focused path forward. We are pleased that through Murphy Vision Funds and Invest Nebraska we can accelerate the team’s growth.”
The company was founded by Fix in 2017 following his successful exit from Blabfeed, a digital signage integrator that helped retail brick and mortar stores build engaging kiosks to market goods. The team includes seasoned startup technologists, including Andrew Dierks (RingPatrol) and Biagio Arobba (Community Heritage Labs). The underlying product is both hardware and software – explaining why an experience hardware person (Dierks) and a strong developer (Arobba) are both important elements of the evolving team.
To find out more information about Retail Aware, check out their website at http://www.retailaware.com.