Retail tech services platform Kinetic nabs more VC dollars

Kinetic Commerce, a Toronto-based provider of retail technology services, has raised an undisclosed financing.

Kinetic Commerce, a Toronto-based provider of retail technology services, has raised an undisclosed financing. The round, which brings total funding to C$12 million, was backed by new and existing venture capital investors, which include Eventi Capital Partners. Kinetic said the proceeds will help expand sales and development and enhance its software-as-a-service platform.

PRESS RELEASE

TORONTO, Feb. 15, 2022 (GLOBE NEWSWIRE) — 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.

“With more physical store locations reopening every day and the holiday season fast approaching, there is a rush to adopt in-store mobile 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.