NewStore secures $50m Series B

Mobile retail platform NewStore has secured $50m Series B funding round led by Activant Capital.

Previous investors General Catalyst and Stephen Schambach also took part in the latest investment.

NewStore allows for the creation of an end-to-end customisable platform for mobile devices and helps retailers create omni-channel experiences, connecting consumers to associates and products. NewStore works with existing ecommerce platforms including Salesforce Commerce Cloud, SAP Hybris, Oracle ATG, and Magento.

The platform lets retailers create one touch payment solutions, easy to access customer information and communications, and implement finger print authentications.

Capital raised in the round will be used to expand its product and launch a new solution for retailers looking for omni-channel operations.

Activant Capital partner Steve Sarracino said, “Nearly every industry in the world has been disrupted by mobile, and one of the most affected is retail. Consumers demand seamless experiences across channels, and brands are ill equipped to deliver.

“The NewStore Mobile Retail Platform makes omni-channel a reality. We see mobile capturing an ever-growing portion of the $24 Trillion worldwide retail market, and NewStore is at the epicentre of that transformation.”

Following the investment Steve Sarracino will join NewStore’s board of directors.

Total capital raised by NewStore has reached $90m, with the company’s Series A funding round picking up $30m in 2015.

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