1. Media & Marketing

XY Retail secures seed round from Monta Vista Capital

PoS and omnichannel commerce solution startup XY Retail has closed a $4 million seed round led by Monta Vista Capital with participation from Stage 1 Ventures.

The cash will be used to accelerate the company’s global roll-out of its XY platform to luxury brands.

The aim is to help them digitise their enterprises and manage their entire global retail operations— from data decisioning, stock management, and order fulfilment to hyper-personalising the clienteling and merchandising experience.

“The luxury retail market will reach $296.9 billion by 2026, yet it has been massively underserved by technology providers,” says Roger Krakoff, General Partner at Monta Vista Capital.

“To thrive, luxury retailers need their tech stack to equal the likes of today’s e-commerce giants.”

“But they demand an even greater focus on personalisation, high touch interactions, and seamless connection to the in-person experience. XY Retail is uniquely solving this critical need and driving the next generation of luxury shopping experiences.”

Recently, luxury lifestyle brand ISAIA used XY Retail to centralise its global data across PoS, e-commerce, customer, catalogue, inventory, and sales, simplifying its retail operations.

In early 2021, ISAIA and XY Retail released XY POP, a digital shopping experience where associates can send customers personalised offers with one-click checkout.

“Thanks to XY Retail’s open, scalable, and flexible retail solution, ISAIA stores can handle complex omnichannel scenarios, drive in-store traffic with mobile clienteling capabilities, and fulfill online orders 300 percent faster,” says ISAIA CEO Gianluca Isaia.

“Our corporate teams can now deploy new collections globally, run bulk markdowns, and automate tax reporting across markets. This has made a huge impact on our bottom line.”

“We’re proud to work with XY Retail on a global scale. Its ability to innovate and it’s level of customer service are unparalleled.”

“To compete in the new retail marketplace, all retailers, brands, and brand conglomerates will require a platform approach to replace their disparate applications,” adds XY Retail CEO Susan Jeffers.

“We have developed a single, scalable, API first platform that aligns supply chain, sales channels, and other inputs to deliver a truly delightful customer experience and drive business revenue.”

View Original Article
https://retailtechinnovationhub.com/
Do you like Retail Technology Innovation Hub's articles? Follow on social!