Deals

ThirdChannel Raises $7M in Series A Funding
Date: 
Tuesday, November 7, 2017
Location: 
Cambridge
Categories: 
B2B
Big Data & Analytics
SaaS
Deal Type: 
Funding

ThirdChannel, the retail intelligence platform that pairs a full data collection and analytics solution with an experiential network-for-hire for the world’s leading brands and retailers, today announced that it has closed $7 million in Series A funding. The round is led by Fung Capital, the investment arm of the Fung Family, which separately controls the Fung Group whose core businesses are engaged in supply chain management, logistics and retailing. The funding will enable ThirdChannel to expand the footprint of its real-time platform across key markets to give more brands and retailers visibility into what’s happening – or should be happening – in physical stores and greater ability to take action to meet consumer demands.
 
While shopper expectations of the brick-and-mortar store experience have rapidly evolved, retailers and brands have struggled to keep up.  Many are still looking in the rearview mirror to understand what consumers want and how they will buy, making product and merchandising decisions based on outdated information. Mediocre store experiences have led to consumer boredom, and ultimately weak sales that have caused a wave of store closings.
 
ThirdChannel’s retail intelligence platform unifies all the behavioral and operational data points from the store ecosystem into one seamless decision-making and communications dashboard. It offers the same kind of rich, real time data analytics that companies have come to expect in their eCommerce.   For the first time, a brand’s field team or retailer’s store associates can provide a continuous feedback loop from the store floor and have that feed into action plans that incorporate product demand, merchandising successes, inventory levels, weather impact, store traffic patterns, and other essential data. Retail execution issues can be resolved as soon as they are identified, removing the delays or lack of resolution that result in missed sales opportunities... READ MORE