Investment from existing investors Salesforce Ventures, Felicis and Novel TMT to accelerate the growth of its Modern POS business
SAN FRANCISCO--(BUSINESS WIRE )--PredictSpring, a leader in omni-channel commerce and modern POS technology, today announced that it has raised $16 million in Series B funding, taking its total funding to date to $32 million. Existing investors Salesforce Ventures, Felicis and Novel TMT Ventures participated in the round. PredictSpring will use the new funding to accelerate the growth of its omni-channel business and grow its R&D and go-to-market teams.
The additional funding will support PredictSpring’s mission to continue its innovation and pioneering approach to omni-channel commerce and redefine the in-store experience for consumers and store associates. PredictSpring Modern POS is a leading solution in the retail industry and supports a broad array of verticals, including apparel and footwear, luxury, health and beauty, jewelry and watches, winery and liquor stores, home furnishing and decor, and telco.
PredictSpring Modern POS is a mobile-first, omni-channel-enabled, customer-centric version of a POS for the retail industry. The company has seen 100% plus year-over-year ARR growth in its Modern POS business over the last three years and has grown payments transaction volume processed through its Modern POS platform by 455% year-over-year. PredictSpring Modern POS is deployed on thousands of terminals in 25 countries, powering the omni-channel experience for global retail brands.
"In the last three years, we have seen an accelerated transition from decades-old legacy retail POS systems to modern POS platforms across the board in the retail industry,” said Nitin Mangtani, Founder and CEO of PredictSpring. "This funding round enables us to expand on our already successful Modern POS business, and provide brands and retailers with innovative omni-channel solutions that further improve the consumer experience and drive sales.”
PredictSpring Modern POS Key Features
PredictSpring Modern POS is available in 25 countries including US, UK, Canada, Australia, South Korea and has achieved fiscal compliance for POS software in European countries including France, Austria, Italy, Portugal, Germany, and in Mexico.
PredictSpring is the leading omni-channel commerce platform in the retail POS market. PredictSpring Modern POS provides a seamless in-store experience for brands with support for full POS, mPOS, cash management, clienteling, endless aisle, inventory management and curbside pickup.
PredictSpring Modern POS connects the online and in-store customer journey and enables brands to engage with customers by offering fast and seamless omni-channel journeys. PredictSpring Content Management System (CMS), the leading no-coding commerce platform, enables retailers to create highly customized on-brand experiences along with in-store promotions and loyalty integrations.
Founded by the visionary behind Google Shopping, PredictSpring powers omni-channel experiences for the world’s leading brands and retailers, including Sandro, Maje, Deciem, Steve Madden and Suitsupply. To learn more, visit www.predictspring.com
Michael McMullan / Carly Berns mmcmullan@bcg-pr.com / cberns@bcg-pr.com
PredictSpring announced that it has raised $16 million in Series B funding, taking its total funding to date to $32 million.
Michael McMullan / Carly Berns mmcmullan@bcg-pr.com / cberns@bcg-pr.com