Motorola Solutions Venture Capital Invests in Retailigence’s $2.6 Million Funding Round
January 18 2012 - 9:00AM
Business Wire
Motorola Solutions, Inc. (NYSE:MSI), through its strategic
investment arm Motorola Solutions Venture Capital, has
invested in Retailigence, a mobile marketing service for retailers
focused on local product and brand availability. The funding will
be used to advance the development of the service, accelerate
integration into major retail systems, and dramatically expand
retailer coverage.
As the worlds of online and offline retail commerce merge, it
has become essential for brick-and-mortar retailers to provide
solutions that connect with consumers seamlessly both online and
in-store. Retailigence facilitates these connections by integrating
with local retail systems and aggregating data. A retailer’s highly
actionable “available inventory” information then is distributed to
shoppers with high purchase intent via applications utilizing
Retailigence’s services.
Retailigence information is demanded by mobile consumers using
smart devices to find products locally for purchase. With the
proliferation of location-aware applications, consumers now are
equipped with sophisticated shopping tools that can be even more
powerful when connected to existing and emerging retail
solutions.
“Motorola Solutions is an established leader in retail, and we
are very excited to be working with them to accelerate the adoption
of our service throughout the retail industry,” said Jeremy Geiger,
founder and CEO of Retailigence.
“The rising availability of shopping-assisted options across all
shopping channels means that retail stores must be visible when
shoppers are ready to buy,” said Reese Schroeder, managing director
of Motorola Solutions Venture Capital. “We believe that
Retailigence is implementing critical technology that can help
brick-and-mortar retailers remain fiercely competitive.”
The results of Motorola Solutions’ annual Holiday Shopping
Survey, released in December 2011, revealed that while shopper
activity and spend remains higher in-store than online, retailers
need to continue to address the needs of the omni-channel shopper.
Online purchases increased more than 18 percent compared to 2010,
and 63 percent of surveyed shoppers with smartphones downloaded a
shopping application.
Retailigence has grown rapidly since launching in late 2010. The
service now has more than 10 million active products that can be
found at nearly 100,000 retail locations across the United States
and Canada. The company also is seeing great success in the
Japanese market where it recently launched with major Japanese IT
and telecom partners.
About Motorola Solutions
Motorola Solutions is a leading provider of mission-critical
communication solutions and services for enterprise and government
customers. Through leading-edge innovation and communications
technology, it is a global leader that enables its customers to be
their best in the moments that matter. Motorola Solutions trades on
the New York Stock Exchange under the ticker “MSI.” To learn more,
visit www.motorolasolutions.com. For ongoing news, please visit
our media center or subscribe to our news feed.
About Motorola Solutions Venture Capital
Motorola Solutions Venture Capital is the strategic equity
investment arm of Motorola Solutions. Its diversified portfolio is
focused on “new-idea” companies and opportunities that complement
Motorola Solutions’ business strategy. Motorola Solutions Venture
Capital invests at all stages in developing companies to accelerate
access to new technologies, new markets and new talents. For more
information, please visit www.motorolasolutions.com/ventures.
About Retailigence
Retailigence is a hyperlocal marketing platform designed
specifically to help drive qualified foot traffic into local retail
stores. Retailigence does this by distributing a brand or
retailer’s product availability information via a network of
location-based application partners, used by consumers who are
close to finalizing their buying decision. For more information,
visit www.retailigence.com and http://twitter.com/Retailigence.
MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are
trademarks or registered trademarks of Motorola Trademark Holdings,
LLC and are used under license. All other trademarks are the
property of their respective owners. ©2012 Motorola Solutions, Inc.
All rights reserved.
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