Pointy raises $12M Series B to help bricks and mortar retailers fight Amazon – TechCrunch
Pointy, the startup that gives tech to assist bricks and mortar retailers put their inventory on-line in order that it may be found through search engines like google, has picked up $12 million in new funding. The Sequence B spherical is led Polaris Companions and Vulcan Capital, and brings complete funding for the Irish firm to $19 million.
Based on the premise that individuals usually resort to e-commerce behemoths like Amazon as a result of they will’t discover the identical merchandise regionally, Pointy has developed a and cloud software program answer that makes it straightforward to create a bespoke web site as means of creating native inventory discoverable on-line. Particularly, the ”Pointy field” gadget connects to a retailer’s barcode scanner and robotically places scanned gadgets on a Pointy-powered web site for the shop.
Retailer pages are then optimised for search engines like google, in order that once you seek for merchandise regionally — say your favorite artisan beer — a Pointy-powered end result reveals up and encourages you to go to the shop and make a purchase order. In different phrases, that is about serving to native retailers drive extra footfall, however with little or no extra overhead.
Pointy CEO and co-founder Mark Cummins says the Sequence B spherical will likely be utilized by the startup to speed up progress and construct on an elevated uptake by U.S. retailers. It at present counts 5,500 retailers utilizing Pointy in complete, with 70 p.c from the U.S, and the remaining in Canada, U.Okay. and Eire. “To place the U.S. quantity in context, just below 1 in 200 U.S retailers is now utilizing Pointy,” an organization spokesperson tells me.
Since we final coated Pointy, the began has prolonged its attain significantly with partnerships with Lightspeed, Clover and Sq., which permits retailers utilizing these POS methods to make use of the Pointy platform totally free as a result of it doesn’t require the acquisition of the $499 Pointy system. It has additionally partnered with Google through the search big’s new See What’s In Retailer (SWIS) program in order that consumers can uncover what a retailer sells inside Google’s search and maps pages.
“For all of the hype round e-commerce and the media narrative of ‘Retail Apocalypse’, individuals nonetheless make the overwhelming majority of their purchases in native shops,” provides Cummins in an announcement. “However native retailers have misplaced out in not having their merchandise seen on-line – we clear up that downside for them”.
In the meantime, Level’s earlier backers embody Draper Associates, Frontline Ventures, and notable angel buyers resembling Matt Mullenweg (founding father of WordPress), Lars Rasmussen (co-founder of Google Maps), Taavet Hinrikus (co-founder of TransferWise), and Michael Birch (co-founder of Bebo).
Supply hyperlink – https://techcrunch.com/2018/07/12/pointy-series-b/