Retail Tech: The Phoenix Rising Amidst the Chaos
Every month, it’s like a recurring case of déjà vu: the supposed demise of retail. This time, it’s Bed Bath And Beyond. Previously, it was Party City, Pier 1, Sears, JCPenney, Neiman Marcus, Brooks Brothers, and Barneys. From low-end to high-end, it seems that Amazon and Walmart are devouring the world, with the pandemic only adding fuel to the fire.
As consumers rapidly change the way they engage with retailers, and e-commerce giants like Amazon continue to grow, many have predicted the end of brick-and-mortar stores—and the technology that supports them.
But hold on to your shopping carts, folks! Retail technology is far from dead. In fact, it’s evolving at a breakneck pace. With the help of emerging technologies, it’s transforming the retail industry as we know it. Get a free data sample and see for yourself how retail tech is thriving in these uncertain times.
Debunking the Myth: Retail Tech is Alive and Kicking!
Forget what you’ve heard – retail technology is far from dead! In fact, it’s flourishing more than ever. The retailers who are not just surviving, but thriving, are the ones investing in cutting-edge tech to enhance everything from their supply chain optimization to the in-store experience. The retail tech sector is witnessing a surge of innovation, giving birth to trailblazing companies all around the globe.
Meet the Top 100 Global Retail Tech Game Changers
Our analysis of the top 100 Global Retail Tech companies unveils a vibrant landscape of growth, capital, and a talent pool that’s nothing short of impressive. These forward-thinking companies are shaping the future of retail with groundbreaking solutions like AI-powered personalization, digital shopper engagement, merchandise planning and inventory management, interactive displays, augmented reality shopping, frictionless checkout experiences, supply chain visibility, and even robotic fulfillment.
Who’s Making Waves in Retail Tech Funding?
Cart.com – With a whopping $240M raised in 2021 and an additional $38M this year, Cart.com is making a name for itself in multi-channel management software, fulfillment services, marketing services, customer service, and e-commerce analytics software.
Swiftly – This Seattle-based company hit the $1B unicorn mark and raised another $100M in September 2022 to help level the playing field for brick-and-mortar retailers by growing their digital, loyalty, and retail media programs.
Locad – Hailing from Singapore, Locad secured $15M in January 2023, adding to its impressive $40M warchest. They’re powering brands like Levi’s with their logistics engine, handling storage, packing, shipping, and tracking of products through an international network of warehouses and local carriers in Asia-Pacific.
Agility Robotics – This Oregon-based company raised a staggering $150M Series B to create the first human-centric, multi-purpose robot designed for logistics work. Prepare to be amazed!
Stockly.ai – The French innovator raised an $11M Series A to help e-retailers sell products they don’t have in stock by connecting them with other official resellers and brands in their network.
Hivery – The Australian company secured a $29M Series B in July 2022 and earned a spot on Fast Company’s list of most innovative companies with their AI-powered hyper-local retail assortment strategy simulation and optimization solutions.
Dropit – Based in the UK, Dropit raised a $24M Series C to assist retailers like Nike and malls like Simon Malls in leveraging AI insights to validate and optimize retail decisions.
Want more data on these well-funded retail tech companies?
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The Talent Acquisition Frenzy in Retail Tech
Retail tech companies are making waves with their ability to achieve high revenue and valuations with relatively small teams. The average company has 130 employees, and the entire sector has been on a talent acquisition spree, growing teams by an average of 51% in the past year.
Some companies with the highest employee growth in the past 12 months include:
- Ikas – The Turkish e-commerce platform expanded its team by a whopping 1688%.
- Agility Robotics – The logistics robotics company grew its team by 132% after securing $150M in Series B funding.
- Graas.ai – This Singapore-based company increased its team size by 120% to develop and market its AI and predictive analytics engine.
- EcoCart – The San Francisco-based company grew by 104% post its $14M Series A, helping brands like Walmart, Zenga, and Skullcandy create sustainable checkout experiences.
- Kevin. – The Lithuania-based next-generation payments infrastructure company expanded its team by 76% after raising a $65M Series A.
- Channel Engine – The Netherlands-based company grew its team by 76% using its $49M Series B financing, connecting stores, brands, and distributors to the biggest marketplaces.
[Discover all the rapidly hiring companies here]
Notable Hires in Retail Tech
To fuel their growth, retail tech companies have been on an executive talent acquisition streak. Check out some of these notable hires:
Agility Robotics lured top talent from companies like Fetch Robotics, Glowforge, Raytheon, and Zymergen.
Cart.com attracted experienced professionals from Adobe, Majesco, Wolin Design Group, and Radial Inc.
Hivery hired its Chief Product Officer and VP of Engineering from Fabric.
Graas added top executives from SELLinALL and Shoptimize to its team.
DropIt brought on board experts from ClearDATA, PrettyDamnQuick, and Smarter.
Kevin. hired its CRO from SAP, Chief Product Officer from Ibank, and Chief Brand Officer from SThree.
[Find the full list of key hires here]
Contrary to the rumors of retail’s decline, retail tech is not only alive but thriving. Innovative companies are powering the next era of retail with multi-channel management software, logistics robots, and AI-powered hyper-local retail assortment strategies. With an impressive talent acquisition streak and successful funding rounds, the retail tech sector is here to stay.
So, what sector should we analyze next?