Retailcommon closes $2M Series A financing
Retailcommon Inc. has raised $2 million in Series A financing with a group of private investors. They join pervious investors including Michael Emory (President & CEO, Allied Properties REIT), Richard Hamm (CEO, Bristol Gate Capital & Director, Plaza Retail REIT), Blake Loveless (Managing Principal, MeyerBergman Funds), and Peter Sharpe (Former President & CEO, Chairman, Cadillac Fairview).
Retailcommon will launch its platform that enables retailers to connect with their customers’ mobile devices while they are actively shopping in the U.S. on November 1, 2014. Using the Retailcommon platform, retailers can plan, execute and optimize advertising and promotional campaigns in real time.
“Retailcommon has been delivering results in Canada for three years, where we introduced this new concept to change the way retailers and consumers think about social shopping,” said James Cunningham, CEO of Retailcommon. “Then we began selling and raising capital to strengthen the balance sheet in preparation for our next phase of growth. We are encouraged by the belief investors and customers have in the power of Retailcommon to transform retail business. The new capital, with the experience of our A-list team of investors and proven track record in Canada and Europe, gives us incredible fuel and flexibility to accelerate growth.”
Retailcommon’s clients use the adaptive, web-based administration tools to instantly create and distribute promotional and advertising content to generate traffic, increase sales and build customer engagement. The cloud-based system permits retailers to manage their offers and track real-time results.