CPE News (2.16.2022) – Kinetic Commerce has raised significant amount of growth investment from both new and existing venture investors, bringing total funding to date to over CAD $12 million.
Kinetic Commerce did not disclose the names of investors. Eventi Capital Partners, one of the investors, completed its first investment in Kinetic in November 2016.
Toronto based Kinetic Commerce works with leading global retailers to produce some of the most inspiring retail experiences and technology solutions in the retail industry.
Kinetic will use new funding to continue to improve its platform, making it easier for clients to implement with even fewer internal IT resources.
photo credit: Kinetic Commerce
News Release
CORRECTION – Kinetic Commerce Completes Strategic Investment Round
New financing positions Kinetic Commerce for accelerated growth in 2022 as retailers continue their rapid digital transformation
TORONTO, Feb. 16, 2022 (GLOBE NEWSWIRE) — In a release issued under the same headline on Tuesday, February 15th, 2022 by Kinetic Commerce Inc., please note the references to store reopenings in the sub-headline and second paragraph have been removed. The corrected release follows:
Kinetic Commerce, a leading retail technology services provider, today announced a significant growth investment to expand its sales and business development efforts, and to further enhance its Software as a Service (SaaS) Platform. The financing was supported by both new and existing venture investors and brings Kinetic’s total funding to date to over CAD $12 million.
“There is a rush to adopt in-store mobile and omni-channel customer service technology in the retail industry,” said Troy Michaud, President and CTO, Kinetic Commerce. “A modern retail environment needs tools and technology to engage customers, increase customer loyalty, drive conversion rates and support sales associate performance. KineticCommerce has delivered dramatic growth on these metrics for all of our retail clients, and we are eager to share our technology and experience with new clients as well.”
The Kinetic Commerce Platform was co-created in collaboration with global retailers based on years of design, product development and IT implementation. The omni-channel platform brings together mobile technologies and digital enablement software for retailers that empower sales associates to engage and delight customers, while also driving incremental sales. Kinetic Commerce is a leader in modernizing retailers, including the high-growth sectors of health and beauty, home improvement and consumer electronics. Shoppers also benefit through improved service, and the ability to access information they expect from modern retailers such as real-time product inventory levels and order status.
With this funding, Kinetic will continue to improve its already impressive speed and ease of deployment of the Platform, making it easier for clients to implement with even fewer internal IT resources. The Kinetic Platform includes a broad feature set, including Clienteling to build long-term relationships, Endless Aisle so customers can browse and shop a retailer’s entire catalogue while in store, Mobile Point-of-Sale (mPOS) enabling a variety of mobile devices to accept payments, Virtual Associate Tools that empower retail associates to engage customers and drive incremental sales online, and Appointment Booking for service appointments, order pickup, and events.
“With retailers addressing omni-channel initiatives as a strategic imperative, we are excited to be building on the incredible momentum our team has created,” added Michaud. “We are connecting the online and in-store customer journey, enabling brands and their sales associates to engage with customers in a personalized, efficient way. Our platform has delivered fantastic results, and we applaud the incredible efforts of our entire Kinetic team for enabling this success.”
About Kinetic Commerce:
Based in Toronto, Kinetic Commerce (www.kineticcommerce.com) is a leading retail technology and services firm that is on a mission to help retailers create the most seamless and compelling experiences possible for their customers and store associates. The Kinetic Commerce Platform seamlessly integrates with a retailer’s existing systems and equips them with flexible building blocks to create new solutions with blistering speed and limitless scale. Leading retailers like L’Oréal, Lowe’s/RONA, Telus and The Source use Kinetic to support their associates, increase sales and deliver outstanding customer experience.
Further Information and Inquiries:
Scott Bryan
CFO, General Counsel
scott.bryan@kineticcommerce.com
1-416-710-6170