Tag: Revionics

Austin-based Revionics Raises $30 Million from Goldman Sachs

imgres-3Revionics, a retail software maker, has announced it raised $30 million in venture capital from Goldman Sachs.

The Austin-based company plans to use the funds to expand its global market share and for research and development on its software products.

As part of the deal, Hillel Moerman, co-head of the Goldman Sachs Private Capital Investing group, plans to join the company’s board of directors.

“Revionics’ best-in-class product, customer base, and management team have positioned the company to be a global leader in merchandise optimization,” Moerman said in a news release. “We are pleased to contribute to Revionics’ product innovation and continued success.”

Revionics creates data-driven shopper analytics for retailers. It has more than 37,000 customers worldwide. The company reports its customers “typically see a 2 percent to 5 percent increase in gross margin, a 2 percent to 7 percent increase in sales and on average a $10 return on every dollar invested.”

“We selected Goldman Sachs as our new financial partner due to their distinguished track record funding fast growing pre-IPO companies. We are thrilled that they see the significant growth opportunity ahead of us,” Marc Hafner, Revionics CEO said in a news release. “Revionics is committed to innovate and provide greater value to our customers. Today we deliver an estimated $2B in additional profit annually to our retail customers. This investment will accelerate key R&D efforts as well as provide us with additional access to capital for future acquisitions.”

Revionics relocated its headquarters to Austin from California in 2013. The company has previously raised $18 million in three rounds from two investors, according to its Crunchbase profile.

Revionics Moves to Austin, Plans to Quadruple in Size

urlRevionics, which sells retail software as a service, known as SaaS, online, plans to move its headquarters to Austin.
The company, which is relocating from Roseville, Calif., plans to expand its marketing, sales and training operations and plans to hire hundreds of new employees. It reports plans to quadruple in size.
Revionics currently has less than 200 employees, according to its LinkedIn.com profile. Its new office will be at 5000 Plaza on the Lake.
Revionics also has offices in Scottsdale, Arizona and London and will keep an office in Roseville.
“As we enter into our second decade of strong growth, relocating to Austin helps position us for more rapid expansion in the retail technology industry and offers our employees the benefits of a culturally rich city with a relatively low cost of living,” Marc Hafner, its president and CEO said in a news release.
“We are excited to become part of the ‘Silicon Hills’ community, which currently includes leading technology innovators such as IBM, Dell, Apple, Hewlett-Packard, Google, Facebook, Oracle Corporation and more. With our global expansion, we also envision establishing offices in other regions of the world as our tremendous growth continues,” Hafner said.
The company, founded in 2002, has raised $18 million to date, according to its CrunchBase profile.

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