Altierre Corp today announced that it has secured more than $21 million in financing that will be used to support the Company’s strategic global growth plans. The financing was co-led by new investor Stratim Capital and D.E. Shaw & Co., and included Altierre’s existing investors ATA Ventures, DuPont Capital Management, Labrador Ventures and Kinetic Ventures.
“Our proprietary wireless technology is installed at thousands of retailers’ stores today and this financing will provide the necessary resources to expand that to thousands more,” said Altierre Chairman and CEO Sunit Saxena. “We are now well capitalized to lead the charge in bringing the Internet of Things to retail aisles globally and enhance efficiencies within retail stores.”
“We are glad to join Altierre’s stellar group of investors,” said Zach Abrams, founder and managing partner with Stratim Capital. “There is a large market opportunity for Altierre to expand efforts with their low power wireless platform and applications, and this additional financing will help the company further penetrate the price and promotion automation process while enabling personalized marketing opportunities within the global retail market place.”
Altierre unlocks the promise of Big Data and the Internet of Things with its revolutionary wireless technology that enables devices to exchange data and instructions bi-directionally in a low cost, low energy, highly scalable network. Altierre’s proprietary networking and technology solutions enable retailers to:
• implement dynamic, intra-day promotional pricing,
• deliver point of decision customer interactive mobile communications (BLE/QR codes/NFC, etc),
• optimize product placement through temperature, lighting and customer traffic monitoring,
• maximize inventory turn with out-of-stock shelf sensor devices, and
• leverage future innovations and applications that could potentially deliver billions of dollars of value in cost savings and additional revenue opportunities.
Millions of Altierre’s digital signs are currently installed and operating nationwide in retail stores in over 1,000 U.S. cities as well as several hypermarket stores across France operated by E.Leclerc, one of Europe’s leading retail chains.
About Stratim Capital
Stratim Capital is a leading secondary direct private equity firm that provides liquidity for venture capital, buyout and other private equity investors in secondary transactions. Our principals focus on identifying investment opportunities in leading late-stage companies that exhibit strong growth and market-leading technologies and then helping them further execute on global expansion strategies. Prior portfolio companies include such market leaders as eHealthinsurance.com, Brightroll, CafePress, Yodle, 2Wire, MobiTV, and Sharebuilder. For more information, visit www-wp.stratimcapital.com.