PredictSpring secures Series B funding of $16 million
PredictSpring has raised $16 million in Series B funding to accelerate the growth of its omni-channel business and grow its R&D and go-to-market teams.
The omni-channel commerce and modern POS technology company received funds from existing investors Salesforce Ventures, Felicis and Novel TMT Ventures, which bring its total funding to date to $32 million.
In particular, the funding will support its mission to continue its innovation and pioneering approach to omni-channel commerce and redefining the in-store experience for consumers and store associates.
"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.”
Available in 25 countries including the U.S., UK, Canada, Australia, and South Korea, the company has seen 100%-plus year-over-year ARR growth over the last three years and has grown payments transaction volume processed through its Modern POS platform by 455% year-over-year.
PredictSpring 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. It currently powers omni-channel experiences for brands and retailers, like Sandro, Maje, Deciem, Steve Madden and Suitsupply.
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