Venture Capital News: aisle411 Announces $6.3M in Series A
ST. LOUIS, MO, Retail-focused indoor location platform announced a $6.3 million Series A round of financing led by St. Louis-based early stage Venture Capital firm Cultivation Capital.
Retail-focused indoor location platform aisle411 - currently used across the U.S. by customers of Walgreen's, Home Depot, Hy-Vee, and other major retailers - today announced a $6.3 million Series A round of financing led by St. Louis-based early stage Venture Capital firm Cultivation Capital.
The new funding round brings aisle411's total to more than $10 million since its founding in 2008, and investors in the Series A round also include Google's Don Dodge, who will serve as an official advisor to the aisle411 team, as well as Plug & Play Ventures of Silicon Valley, the St. Louis Arch Angels, the Billiken Angels, and the Springfield Angel Network.
'We've seen a significant increase in demand from the retail market for our services,' said Nathan Pettyjohn, founder and CEO of aisle411. 'The investment round allows us to aggressively scale to a growing list of global retail partners.'
aisle411's proprietary, first-of-its-kind indoor retail mapping and location service and mobile platform allows shoppers to easily navigate through retail stores to find exactly what they want quickly by collecting, organizing and monetizing retailers' product inventory, location data, and enterprise software space planning systems and store maps. The service drives higher customer satisfaction, brand affinity and a deeper level of engagement between the retailers and its customers by simplifying the shopping experience.
'We're extremely excited to lead another successful Series A round,' said Cultivation Capital General Partner, Rick Holton, Jr., who along with Cultivation's Dean VandeKamp will join aisle411's board of directors. 'aisle411's success is validated by the leading retailers who have adopted its technology and we expect this round of funding to allow aisle411 to expand the company's product offerings and grow its reach into the global retail market.'
In addition to major retailers like Walgreen's and Home Depot using aisle411's solution, the company also partners with grocery store chains Schnucks, Shop 'n Save, Price Chopper, and other major retailers.
'The start-up ecosystem in the region is exploding thanks to Cultivation Capital's commitment to innovative companies like aisle411,' said Matthew Kulig, Co-Founder and CFO at aisle411.
Headquartered in St. Louis, Missouri, and founded in 2008, aisle411 was first to market with a mobile product search service using retail product location information to help consumers save time and money. aisle411 provides a comprehensive in-store search and navigation solution for consumers via mobile technologies with support for iOS and Android devices. aisle411's proprietary system collects, organizes and monetizes retailers' product inventory location data and enterprise software space planning systems and store maps, providing an in-store search and navigation platform that meets the scalability demands of leading retailers. Additional information is available at: http://www.aisle411.com/
About Cultivation Capital
Cultivation Capital is a St. Louis-based early stage Venture Capital firm investing in high potential technology companies throughout the Midwest. Cultivation Capital is managed by a team of experienced entrepreneurs, who have started more than 25 companies, raised more than $200 Million dollars and had several successful exits. For more information, visit http://www.cultivationcapital.com.
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