Qualcomm, AMEX, Nokia in $30m investment for retail analytics company


trolleysQualcomm Ventures, American Express and Nokia Growth Partners have led a $30m financing round for Big Data analytics company RetailNext.

Existing shareholders August Capital, StarVest Partners and Commerce Ventures also re-upped in the investment round bringing the total capital raised to $59m.

RetailNext provides analytics in applied Big Data for the physical retail sector. The business has more than 140 customers globally and new store deployments growing at a rate of up to 1,000 a month.

AMEX managing partner Harshul Sanghi said, “RetailNext’s technology and analytics solution allows retailers to run a more effective, efficient and overall smarter business.

“As merchants around the globe continue to navigate the multichannel landscape to reach customers, RetailNext is poised to expand its leadership position in this rapidly growing sector.”

The investment from credit card giant AMEX follows news an announcement in late 2011 that it had set aside $100m for acquisitions in Silicon Valley to aid its expansion in the digital commerce sector.

Since then its investments have included cloud business intelligence platform Birst, which raised $38m in August 2013.

Copyright © 2014 AltAssets