Omnichannel retail management solution provider CitiXsys has scored $20m in its Series B round which was led by Housatonic Partners.
This capital injection brings the company’s total funding efforts to $45m, with the company previously netting $25m in a Series A.
Founded in 2005, the company provides retailers with a suite of management tools to support operations such as in-store terminal and mobile POS transactions, e-commerce, inventory and fulfilment, loyalty programs, pricing and promotion management, and analytics.
Its POS solutions provide businesses with terminals to process a range of transaction types, via a desktop solution or mobile platform. Alongside this, retailers can access information and tools to improve business operations.
Its services are used by thousands of retailers across more than 85 countries, according to the company. Some of its clients include Samsonite, Virgin Mobile, Crabtree & Evelyn, Circle K, Asics, and The Al Muhaidib Group.
Following the equity round, the company will look to increase its growth and take a more aggressive M&A approach as it searches for strategic acquisition targets.
CitiXsys CEO Kamal Karmakar said, “Purchasing a retail management solution is one of the most important decisions a retailer can make, since the future of the entire business hangs on its success. CitiXsys aims to minimize this risk for retailers contemplating their digital transformation with a modular, platform approach designed to scale as retail operations grow in size, across geographies and in technological complexity.”
Earlier in the year, Housatonic Partners completed an undisclosed investment into Registria. The company is a post-purchase ownership system to help retailers connect with their customers. Its solutions are used to onboard customers, gain insights and engagement services to boost understanding of consumers and drive revenue growth.
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