SAN FRANCISCO–(BUSINESS WIRE)–PredictSpring, a leader in omnichannel commerce and modern point-of-sale technology, today announced that it has raised $16 million in Series B funding, bringing 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 omnichannel business and expand its R&D and go-to-market teams.
The additional funding will support PredictSpring’s mission to continue its innovation and pioneering approach to omnichannel 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 wide range of verticals including Apparel & Footwear, Luxury, Health & Beauty, Jewelry & Watches, Wineries and liquor stores, furniture and decoration, and telecommunications.
PredictSpring Modern POS is a mobile-first, omnichannel, and customer-centric version of a point of sale for the retail industry. The company has delivered over 100% year-over-year ARR growth in its modern point-of-sale business over the past three years and increased the volume of payment transactions processed through its platform by modern outlet by 455% year over year. PredictSpring Modern POS is deployed on thousands of devices in 25 countries, powering the omnichannel experience for global retail brands.
“Over the past three years, we’ve seen an accelerated transition from decades-old legacy retail point-of-sale systems to modern point-of-sale platforms across the retail industry,” said Nitin Mangtani, founder and CEO of PredictSpring. “This funding round allows us to scale our already successful modern point-of-sale business and provide brands and retailers with innovative omnichannel solutions that further enhance the consumer experience and drive sales.
Key Features of PredictSpring’s Modern Point of Sale
Full POS and mPOS – PredictSpring Modern POS is deployed as both a fixed POS with cash drawer and printer as well as an mPOS device running on an iPhone or iPad.
Clienteling – Customer 360, loyalty integration, curated product collections and 1:1 customer communication.
Omnichannel Commerce – Endless Aisle Support, Buy Online Return In Store (BORIS), Buy Online Pick Up In Store (BOPIS) and Buy Online Fulfill In Store (BOFIS).
Distance Selling – Ability for associates to sell remotely using the Pay By Link feature.
QR Code Based Payments – Multiple payment options using QR codes to transact through digital wallets, third-party payment platforms such as WeChat Pay and Alipay and buy now, pay later options such as Klarna and Affirm.
Inventory Management – Support for real-time inventory visibility across all channels, inventory receiving, cycle counting, RFID, store transfers and inventory adjustments.
PredictSpring Modern POS is available in 25 countries, including the US, UK, Canada, Australia, and South Korea, and has achieved tax compliance for point-of-sale software in European countries, including France, Austria, Italy, Portugal, Germany and Mexico.
PredictSpring is the leading omnichannel commerce platform in the retail POS market. PredictSpring Modern POS delivers a seamless in-store experience for brands with full support for POS, mPOS, cash management, customer base, endless aisles, inventory management, and pickup at the edge of the street.
PredictSpring Modern POS connects the online and in-store customer journey and enables brands to engage with customers by delivering fast and seamless omnichannel journeys. PredictSpring Content Management System (CMS), the leading zero-coding commerce platform, enables retailers to create highly personalized brand experiences as well as in-store promotions and loyalty integrations.
Founded by the visionary behind Google Shopping, PredictSpring delivers omnichannel experiences for the world’s biggest brands and retailers, including Sandro, Maje, Deciem, Steve Madden and Suitsupply. For more information, visit www.predictspring.com