This document provides an overview of ComCap, a boutique investment bank focused on commerce and capital markets. It focuses on retail in-store technologies. ComCap has experience advising and financing companies in this space. The document discusses trends in in-store technologies like analytics, display/signage, fintech, loyalty programs and more. It also summarizes ComCap's capabilities and team in this sector.
3. CONFIDENTIAL
3
An introduction to ComCap
▪ ComCap is a premier boutique investment bank focused on the intersection of commerce and capital, with key focus
on B2C ecommerce (DNVBs, beauty, health, and wellness), B2B SaaS, B2B services for retail and industrial
technologies (IT and marketing services, in-store, fulfillment, logistics, call center, analytics, personalization),
payments, mobile commerce and marketplaces.
▪ Headquartered in San Francisco with offices in Singapore and India, our firm works with mid-cap public companies on
buyside initiatives and public and private growth companies on financing and strategic M&A.
▪ In addition to being the only boutique focused on disruptive commerce models, we differentiate by:
✓ bringing bulge bracket techniques to emerging models;
✓ a strong and uncommon buyside/strategy practice;
✓ deep understanding of industry drivers and synergy analyses;
✓ deep relationships across the sector; and
✓ worldwide coverage with closed transactions in the United States, Japan, China, the ASEAN region, Western and
Eastern Europe and Latin America.
▪ Our retail instore technologies team:
Aron Bohlig
Managing Partner
M: +1 415-235-8270
E: aron@comcapllc.com
Steve Terry
Managing Director
M: 415-971-3794
E: steve@comcapllc.com
Uren Dhanani
Associate
M: 512-590-4989
E: uren@comcapllc.com
Matt Nemer
Managing Director
M: 415-444-6714
E: matt@comcapllc.com
Stephen Liu
Analyst
M: 717-380-0406
E: sliu@comcapllc.com
4. CONFIDENTIAL
4
ComCap – A leading boutique at the intersection of Capital
and Commerce
Value
Proposition
Unique, Focused, Global, Strategy and Investment Banking Boutique
Recent transactions completed or underway in the United States, Japan, China, Singapore, Argentina, UK, Sweden, Belgium,
France, Germany
$2B revenue Japanese ecommerce BPO co.
#3 Russian Internet company
#1 UK Internet company
Multiple private B2B ecommerce systems integrators
Selected
ComCap
Clients
#1 Asian ecommerce B2B company
$200M rev US public company
Multiple US and EU private equity funds
Many ecommerce SaaS companies
Google
eBay
Previous
Clients
Transcosmos
Internet Brands
Yahoo
Digital River
Selected Team
Members
Sakshi Goel
Associate
Back office
Team
Shiv Ng
PPG
Sabeeh Mohsan
Analyst
Cindy Lang
Administration and Ops
Experience
Education
Location
Fermin Caro
Vice President
12 years
Credit Suisse
Yale MBA
San Francisco
Aron Bohlig
Managing Partner
23 years
Credit Suisse
Become, Nortel
Wharton MBA
San Francisco
Steve Terry
Managing Director
20 years
Credit Suisse
Battery Ventures
Robertson Stephens
McCombs School
of Business MBA
San Francisco
Uren Dhanani
Associate
6 years
UBS, DaVita
McCombs School
of Business
San Francisco
David Yom
Associate
9 years
J.P. Morgan,
Deutsche Bank
Georgia Tech
MBA
San Francisco
Matt Nemer
Managing Director
20 years
Wells Fargo
Thomas Weisel
Vanderbilt
San Francisco
Swetha Vijay
Director
9 years
DBS, Deloitte
Avista/Houlihan
Lokey
IIM Ahmedabad
MBA
Singapore
5. CONFIDENTIAL
5
Matt Nemer: unique perspective as only lead equity research
analyst covering offline and online retail
▪ Matt Nemer has 15+ years of experience covering retail
and digital commerce at Wells Fargo Securities, Thomas
Weisel Partners, and DLJ
▪ He was the first and only retail analyst to cover physical
retail with pure play ecommerce, video commerce, and
marketplaces
▪ Matt has been a regular contributor on CNBC,
Bloomberg, and the WSJ
▪ Matt is in regular dialogue with C-level executives at the
major retailers
Retail coverage experience
eCommerce &
Marketplaces
Broadlines Hardlines
IPO experience
6. CONFIDENTIAL
6
Selected ComCap transactions & recent mandates
US Europe Asia
Strategic
Advisory
Sep 2013 Mar 2013
Merger with
Strategic
Advisory
Mar 2013
Feb 2015
$45,000,000
Financing
$20,000,000
Series B
Financing
Aug 2015
Sole Advisor to
PFSweb
Sep 2014
Acquisition of
Sole advisor to
transcosmos
Mar 2016
Acquisition of
stake in
Project Tango
DNVB (clothing)
Equity Financing
Pending
Project Orion SaaS
Dual Track Process
Pending
Project Nitro
$100m
Financing Pending
Acquisition of
$55,000,000
Sole Advisor to
PFSweb
Jun 2015
Acquisition of
Sole Advisor to
PFSweb
Jun 2015
Sole Advisor to
PFSweb
Sep 2014
Acquisition of
$62,500,000
Debt Financing
Sep 2015
$14,690,000
Acquisition of
stake in
Sole Advisor to
transcosmos
May 2013
Acquisition of
20% stake in
Sole Advisor to
transcosmos
Jul 2013
Strategic equity
investment from
Aug 2016
Sole Advisor
Oct 2015
Project Titan
$200,000,000
Acquisition
European
eCommerce
SaaS
Dual Track
Process
Pending
Latin America
Sole advisor to
Transcosmos
Dec 2016
Acquisition of
stake in
7. CONFIDENTIAL
$672.0
$340.6
$99.4 $89.6 $61.8 $42.6 $38.9 $26.8 $19.5 $19.0 $18.9 $15.9 $14.0 $13.4 $9.6 $9.4 $9.4 $8.5 $6.9 $5.7 $5.0 $3.2
Retail Ecommerce Sales Worldwide – 2015 (In $bn)
7
ComCap - active in 13 countries, including 11 of the top 22
global ecommerce markets
8. CONFIDENTIAL
8
ComCap helps drive global ecommerce outsourcing expansion
through $15mm equity investment
Global outsourcing leader with premier client base, seeks
expansion via digital services & new geographies
• Based in Tokyo, founded in 1985, (TSE: 09715) since 1997
• $1.5B in sales, ~16,000 employees, ~ 800 clients
• Leading BPO, contact center, digital marketer w. Asia expertise
• Proactively sought to meet clients’ Int’l. expansion needs
• Identified ecommerce as next evolution in outsourced services
International outsourced ecommerce with robust
capabilities and iconic global brands
• Based in Texas, founded in 1994, IPO 1999 on NASDAQ:
PFSW
• $250M in sales, 1,400 employees, >60 brand name clients
• Best in class provider of end-to-end ecommerce outsourcing
• Established operations in N. America and Europe
• Seeking strategic partners to achieve a global solution
Capabilities
Capabilities
Clients Clients
Working with fifteen different strategic partners over four months, ComCap brought together a large
strategic and a best-of-breed point provider to create a best-in-class, end-to-end, global solution
9. CONFIDENTIAL
9
PFSW Case Study – Stock price increase following 1 equity
investment & 4 acquisitions
0
2
4
6
8
10
12
14
16
18
May-01-2013
Jun-01-2013
Jul-01-2013
Aug-01-2013
Sep-01-2013
Oct-01-2013
Nov-01-2013
Dec-01-2013
Jan-01-2014
Feb-01-2014
Mar-01-2014
Apr-01-2014
May-01-2014
Jun-01-2014
Jul-01-2014
Aug-01-2014
Sep-01-2014
Oct-01-2014
Nov-01-2014
Dec-01-2014
Jan-01-2015
Feb-01-2015
Mar-01-2015
Apr-01-2015
May-01-2015
Jun-01-2015
Jul-01-2015
Aug-01-2015
Sep-01-2015
Oct-01-2015
Nov-01-2015
Dec-01-2015
Jan-01-2016
Feb-01-2016
Source: Capital IQ as of Feb 2, 2016
ComCap’s role
• Developed acquisition strategy in terms of services offered (system integrators, creative agencies, marketing agency,
technical agencies, etc.), geographical reach (Europe, Asia, North America) and technology platform partnership
(Demandware, Magento, and Hybris)
• Reached out to a variety of lenders including asset management firms, hedge funds, and strategic investors, resulting in a
$14.7m investment from Japanese ecommerce solutions provider Transcosmos
• Managed and executed deal from submitting an LOI package to negotiating deal structure and terms to conducting due
diligence calls on the acquisition target’s top clients
• Improved PFSweb’s geographical presence and service offering in Europe, resulting in cross-selling opportunities with its
newly acquired subsidiaries and access to marquee European clients in retail and luxury
Transcosmos made a $14.7m
equity investment in PFSweb
Closing stock price: ($4.34 as
of 5/15/2013)
PFSweb acquired LiveAreaLabs
Closing stock price: ($10.64 as of
9/23/2014)
PFSweb acquired REV Solutions
Closing stock price: ($5.09 as of
9/4/2014)
PFSweb acquired MODA
Closing stock price: ($13.74 as
of 6/15/2015)
PFSweb acquired CrossView
Closing stock price: ($12 as of
8/5/2015)
10. CONFIDENTIAL
10
ComCap helps drive capital and business alliance with
Infracommerce
Global outsourcing leader with premier client base, seeks
expansion via digital services & new geographies
• Based in Tokyo, founded in 1985, (TSE: 09715) since 1997
• $1.9B in sales, ~18,000 employees
• Leading BPO, contact center, digital marketer w. Asia expertise
• Proactively sought to meet clients’ Int’l. expansion needs
• Identified ecommerce as next evolution in outsourced services
An e-commerce one-stop services provider with a
focus on Brazil
• Based in São Paulo, Brazil; founded in 2012
• GMV of $25M+ in 2015, 400 employees
• Offers extensive e-commerce related services. A market leader
in Brazil and expanded its sales channel into Mexico
• Plans to enter into Argentina, Columbia, Chile and Peru from
after 2017
Clients Clients
ComCap successfully executed the alliance to enhance e-commerce one-stop services capability in Latin America by
delivering superior products and services to consumers in countries including Brazil and Mexico
Rationale
• Through the alliance with Transcosmos, Infracommerce planned to offer its client companies’ superior products to consumers across Latin American
countries, focusing on Brazil
─ Integrated Transcosmos’s proven operational know-how on “Global E-Commerce One-Stop Services” with the service capabilities that
Infracommerce owns
• Infracommerce has a wealth of know-how and insights regarding the Brazil’s complicated regulations and offers optimum solutions for all businesses
and products
─ Offers comprehensive support ranging from developing e-commerce websites, shop management, online marketing, fulfilment, payment as well as
CRM and customer care
─ Aimed to make a huge contribution to international clients to expand into the Latin American market
─ The amount raised will be used to speed up the internationalization and facilitate omni-channel scale
11. CONFIDENTIAL
$5
$9
$23
$0
$3
$9
$5
$12
$33
$0
$10
$20
$30
$40
2016E 2017E 2018E
DnA Standalone DnA Synergies
11
ComCap helps DynamicAction raise $15m Strategic Round
• DynamicAction (DnA) is a San Francisco based SaaS predictive
analytics platform for retailers
• DnA’s solution leverages >600 algorithms to provide large retailers with
big data insights, derived from $12bn in annual GMV (2nd only to
Amazon), and proscribe prioritized actions related to critical issues that
are largely not visible today - across primarily merchandising, site
operations and customer interactions
• Marquee retailers in the US, UK and Europe such as Victoria’s Secret,
Abercrombie, American Eagle Outfitters, Brooks Brothers, Eddie Bauer,
Cole Haan, Otto Group, Tesco, and El Corte Ingles achieved >20% Y/Y
growth in profit during the 4Q (the most important season for retailers)
• At the time of the transaction, DnA surpassed its 2016E target revenue
and had visibility into >70% of its 2017E target standalone revenue
(112% including its weighted pipeline)
• The round valued DnA at 7.3x 2017E target standalone revenue and
5.3x 2017E revenue (including synergies)
ComCap process differentiation
ComCap successfully executed a capital raise and partnership with committed resources to accelerate
growth and realize material revenue synergies
• Extensive pre-transaction engagement to optimize company’s
positioning emphasizing first mover advantage and
differentiation
• Process designed to engage with key strategics and targeted
private equity players on a global basis
• Created detailed analysis of historical financials to support key
value drivers, customized for each strategic investor, and
detailed synergy models to gain commercial buy-in
• Aggressively engaged with commercial and strategic investment
teams to foster commitment to and consideration for synergies
in the valuation rationale
• Accenture’s retail practice corroborated the commercial opportunity
and, along with the strategic investment, committed to accelerating
DnA’s penetration of the largest retailers worldwide.
• Synergies to DnA are expected to contribute 33% in incremental
annualized revenues vs. DnA’s 2017E standalone revenues
5.3x
Multiple
DnA revenue ramp including synergies ($m)
implies a ‘17 multiple in-line with vertical SaaS leaders
12. CONFIDENTIAL
12
ComCap’s strategic partner landscape
Software and
Service Leaders
Payments
& Fintech
Email Service
Providers / Other
Marketing
Global Logistics
Leaders
Agencies and
Systems
Integrators
Retailers
Corporate
VC’s
eCommerce
leaders
15. CONFIDENTIAL
Transformation of brick-and-mortar retail into in-store start-
ups
15
• Recent advancements
include robotics,
personal recognition,
digital wallets, artificial
intelligence, consumer
analytics and other tech
driven initiatives in order
to make shopping
easier instore and
online
• Instore operations have
been transformed by
new developments such
as interactive kiosks,
mobile payments, BLE
technology, RFID
tagged products and
smart shopping carts
• Innovations such as
virtual mirrors and
interactive kiosks can
also refuel customers’
desire to shop instore
• A range of ancillary
services are popping up
for instore, such as POS
financing, guest wifi,
POS interviews
Source: CB Insights
17. CONFIDENTIAL
The retail IoT market map
17
• According to Juniper
Research, the number of
IoT-connected devices will
reach 38.5 billion in 2020,
a 285% increase from
13.4 billion in 2015
• The devices include
smartphones, tablets,
smart signage and
wearables. Using data
from a smartwatch,
retailers will be able to
gain insight into how long
a customer stands near a
product, or the speed at
which they wander down
the aisle
• To make in-store digital
signage even more
interactive, savvy retailers
are integrating beacon
technology to detect users
with Bluetooth-enabled
smart devices as they
approach the digital
displays. For example:
Zatar and Samsung are
retailers creating an
engaging customer
experience by affixing
RFID tags within labels on
wine bottles
The start-ups in this market map have raised $900m in aggregate to bring
IoT into retail
Source: CB Insights
18. CONFIDENTIAL
18
Retail and risk stand out as analytics applications continue to
attract capital
▪ Retail & Risk analytics companies are still
experiencing steady deal activity
▪ Predictive analytics companies deal
volume has declined in 2016
▪ Deal volume has steadily increased since
2013 with $3bn being raised, while annual
deal activity has decreased from 36 total
deals in 2013 to 29 in 2016YTD for
transactions over $5mm
▪ For all analytics deals global from 2013-
2016YTD, there were nearly 320 deals that
raised over $4bn
180
23
68
39
90
15
38
68
386
70
22
67
150
14
0
57
325
17
57
210
71
14
8
70
252
116
38
18
119
314
8
98
Retail
Analytics
Marketing
Suite
Analytics
eCommerce
Analytics
Predictive
Analytics
Risk
Analytics
Payment
Analytics
Logistics
Analytics
Analytics
(Other)
2013 2014 2015 2016 YTD
9
2
4
3
8
2 2
6
13
2 2
6
7
2
0
3
11
1
2
8
5
2
1
2
10
3
2 2
5
3
1
3
Retail
Analytics
Marketing
Suite
Analytics
eCommerce
Analytics
Predictive
Analytics
Risk
Analytics
Payment
Analytics
Logistics
Analytics
Analytics
(Other)
2013 2014 2015 2016 YTD
$521
$766 $772
$963
36
35
32 29
0
5
10
15
20
25
30
35
40
$0
$200
$400
$600
$800
$1,000
$1,200
#Deals
Capitalraised($mm)
Capital raised ($mm) # Deals
Total # of deals*
Capital raised ($mm)*
Total capital raised & number of
deals (2013-2016YTD)*
Comments
Source: Capital IQ, Crunchbase and Pitchbook
Dates: 1/1/2013 – 11/8/2016
Note: *Only includes companies that have completed $5mm+ round
19. CONFIDENTIAL
19
Total private capital raised for analytics companies (2013-2016YTD)
TotalCapitalRaised
$25m
`
$10m
$50m
$75m
Source: Company data, press releases, Capital IQ, Crunchbase and Pitchbook
Dates: 1/1/2013 – 11/8/2016
Note: Only includes companies that have completed $5mm+ round
$100m+
$0
eCommerce PredictiveRetail PaymentLogistics Marketing SuitesRisk Other
21. CONFIDENTIAL
21
Select company profiles: Data capture
Company Profile Capabilities
Beabloo
Beabloo offer retail in-store tech solutions such as digital
signage, customer data capture solutions and marketing
solutions
Founded: 2008 www.beabloo.com
Employees: 60+ Revenue: NA
HQ: Barcelona, Spain Funds Raised $14.8m
Latest Financing Round: $2.0m
Latest Financing Valuation: NA
Services offered:
▪ Offers digital signage solutions at the point of sale, which allows businesses or public
space to offer commercial information of third party enterprises, such as products and
brands
Customers List: NBA Store, MediaWorld, SoftBank, TBC Bank, Le Mall, Shell, Mango
Key facts:
▪ The company's marketing software enable its clients to send information to their visitors
or users, and learn about their behavior and interaction within the establishment
▪ The company has more than 300 clients in Spain and presence across 20 countries
▪ In 2016, Beabloo acquired #1 web analytics company in Spain, Metriplica, to strengthen
its position in the market as leader in O2O analytics and its portfolio of omni-channel
marketing solutions for EUR2.0m
▪ The company plans to enter US and Japan and have gotten meaningful traction with
myBeabloo in Spain and the UK
Ecrebo
Ecrebo is a developer of a customer engagement platform
Founded: 2009 www.ecrebo.com
Employees: 30+ Revenue: NA
HQ: Reading, UK Funds Raised $8.0m
Latest Financing Round: $6.3m
Latest Financing Valuation: $44.6m
Services offered:
▪ The company offers an online platform that uses sales data to help retailers to connect
with customers in-store
▪ It is a point of sale marketing specialist that enables retailers to deliver targeted offers to
customers
Customers List: M&S, Waitrose, Pandora, Topshop Topman, UNIQLO, Planet Organic,
Wallis, Miss Selfridge
Key facts:
▪ Since its launch, the platform has processed over £30 billion in transactions and
delivered over 800 million personalized offers
▪ The company has been delivering impressive results, with over £500 million in additional
sales delivered for its retail clients
Ksubaka
Ksubaka is a provider of in-store interactive advertising
services
Founded: 2013 www.ksubaka.com
Employees: ~30 Revenue: NA
HQ: Singapore, Singapore Funds Raised: $15.3m
Latest Financing Round: $15.3m
Latest Financing Valuation: NA
Services offered:
▪ Provides media space in retail market for in-store gamified advertising. The platform
remotely manage and monitor tablets and provision gamified apps
Customers List: Clear, Coca-Cola, Colgate, Dove, Head and Shoulders, Johnson &
Johnson, Heineken, GSK, Kellogg’s, Lifebuoy, L'Oreal, Paris, Nescafe, Nestle
Key facts:
▪ In 2016, established a JV with Hong Kong’s Fullshare Holdings Limited to finance the
roll-out of its kiosk marketing machine across mainland China
▪ It has a network of over 7,000 playSpots deployed in 130 cities and over 1,300 store
locations. Has offices in London, Shanghai and Guangzhou
Source: Company data, press releases and Pitchbook
22. CONFIDENTIAL
22
Select company profiles: Data capture 2
Company Profile Capabilities
OAK Labs
Oak Labs is a developer of an interactive fitting room mirror
Founded: 2015 www.oaklabs.is
Employees: ~20 Revenue: NA
HQ: San Francisco, CA Funds Raised $4.2m
Latest Financing Round: $0.2m
Latest Financing Valuation: NA
Services offered:
▪ Oak Mirror is an interactive, touch-screen mirror that empowers shoppers to customize
their fitting room's ambiance, explore product recommendations and digitally seek
assistance from store associates
▪ It detects the items in-hand of the user through RFID tags to show them details about the
item and also enables them to request different colors or size
Partners List: Polo Ralph Lauren
Key facts:
▪ For retailers, the company’s technology drives a lift in sales, higher customer satisfaction,
and creates data to drive merchandise optimization
▪ Offers language support for Spanish, Portuguese, Chinese, Japanese and Italian
▪ The company also has an office in Seattle, WA
Perch Interactive
Perch Interactive is a developer of an interactive display
platform for retail sellers
Founded: 2012 www.perchinteractive.com
Employees: 10+ Revenue: NA
HQ: New York, NY Funds Raised: $2.1m
Latest Financing Round: $1.0m
Latest Financing Valuation: $7.9m
Services offered:
▪ The company develops a cloud-based analytics platform that encourages shoppers to
buy products on display by providing them information on product specific queries
▪ It unites physical products with digital content to engage shoppers and analyze their
behavior
▪ Offers all-in-one solution with form factors that create endless possibilities for store
integration, content creation that leverage existing marketing materials to create a unique
in store experience and cloud services
Customers List: Seiko, Levi’s, Baggu, Mr Porter, Lumi, Mia, Kate Spade
Key facts:
▪ It serves customers in fashion, health and beauty, and food and beverage sectors
▪ It reels shoppers to display, reads customer interactions, respond with digital dynamic
media and reports for all interactions
Quri
Quri is a provider of a retail-intelligence service
Founded: 2009 www.quri.com
Employees:67 Revenue: NA
HQ: San Francisco, CA Funds Raised: $31.8m
Latest Financing Round: $17.0m
Latest Financing Valuation: $70.2m
Services offered:
▪ The company provide real-time data and insights to brands and retailers using the
company's proprietary mobile application
▪ Enables brands and retailers to measure and optimize the exact shopper experience,
maximizing in-store product revenue and profitability
Customer List: Procter & Gamble, Heineken, Unilever, Kraft, Nestlé, Johnson & Johnson
Key facts:
▪ Quri is transforming retail execution by providing real-time, store-level visibility into the
performance of products and promotions in 150,000 retail locations across 6,000 cities
▪ More than 200 global companies rely on Quri to help optimize the $4 trillion dollars spent
annually on retail go-to-market and merchandising
Source: Company data, press releases and Pitchbook
23. CONFIDENTIAL
23
Select company profiles: Analytics
Company Profile Capabilities
Celect
Celect is a provider of a retail analytics platform for
merchandise planning and assortment optimization
Founded: 2013 www.celect.com
Employees: ~10 Revenue: NA
HQ: Boston, MA Funds Raised: $16.9m
Latest Financing Round: $5.2m
Latest Financing Valuation: $22.1m
Services offered:
▪ Assortment optimization: retailers can build inventory selections specifically optimized for
the foot traffic in each individual store
▪ Predictive personalization: employ the best assortment of products to recommend to a
customer via digital channels
▪ Markdown optimization: it eliminate the spiral-down effect often associated with
discounting efforts
Key facts:
▪ Offers a big data predictive analytics platform which helps retail planners, merchandisers
and inventory analysts in planning and assortment optimization
▪ The Celect Optimization Platform, powered by the Celect Choice Engine, reflects a
scientific breakthrough in choice modeling
DynamicAction
DynamicAction is a cloud based, platform as a service
designed to integrate with the myriad of platforms and legacy
systems typically found in a retail environment
Founded: 2007 www.dynamicaction.com
Employees: ~60 Revenue: $6.0m
HQ: Redwood City, CA Funds Raised: $30.0m
Latest Financing Round: $15.0m
Latest Financing Valuation: NA
Services offered:
▪ Two key components to the DnA solution are a library of over 600 proprietary algorithms
and in house account management / merchandising team members. A native SaaS
solution for large retailers that provides big data insights and prescribes prioritized
actions related to critical issues that are largely not visible now
Customers List: Victoria’s Secret, Abercrombie, American Eagle Outfitters, Brooks
Brothers, Eddie Bauer, Cole Haan, Otto Group, Tesco, and El Corte Ingles
Key facts:
▪ The company expects to grow revenue by ~95% in 2017, they have full visibility into
exiting the year at $6m in annualized recurring revenue and line-of-sight into >70% of
total 2017 revenues
▪ Of their 30 clients, those renewing in 2016 averaged an increase of 54% in Annual
Contract Value (ACV), one of which became the first client at >$1m ACV
▪ The company has additional offices in Dallas, London and Sofia, Bulgaria
Minodes
Minodes is a provider of a platform for marketing, in-store
analytics and iBeacon services
Founded: 2013 www.minodes.com
Employees: ~20 Revenue: NA
HQ: Berlin, Germany Funds Raised: $7.8m
Latest Financing Round: $3.9m
Latest Financing Valuation: NA
Services offered:
▪ Offers a software-based campaign tool that enables retailers to measure and optimize
marketing campaigns and shop window designs or develop targeted, location-based
marketing activities
▪ Provides consumer insights by integrating a comprehensive set of technologies and
tools, including state-of-the-art Wifi, beacon, and camera technology
▪ Solutions include Minodes Answers, Minodes TargetAd and Minodes Interactions
Partners List: AXIS Communications, Favendo, XOVIS, Sensorberg, Opera Mediaworks
Key facts:
▪ Enables retailers to improve store operations as well as marketing management
Source: Company data, press releases and Pitchbook
24. CONFIDENTIAL
24
Select company profiles: Analytics 2
Company Profile Capabilities
Mobee
Mobee is a provider of a mobile crowd sourcing platform
Founded: 2011 www.getmobee.com
Employees: 50+ Revenue: NA
HQ: Boston, MA Funds Raised: $11.2m
Latest Financing Round: $7.1m
Latest Financing Valuation: $10.8m
Services offered:
▪ Develops real-time crowdsourced insights for brands, retailers, and asset management
firms
▪ Solutions include in-store audits, mystery shopping, competitive price intelligence,
merchandising services, loyalty programs experience, customer experience, market
research, platform license, lift analysis and others
Customers List: Tena, Bai, Staples, GoPro, SimplyEight
Key facts:
▪ It emphasizes on the requirement for a complete set of offerings including research
consulting, data validation, analytics, and agile product development to ensure the client
can fully maximize the benefits of mobile crowdsourcing
Movvo
Movvo is a provider of a shopper behavior-analytics and
engagement platform
Founded: 2009 www.movvo.com
Employees: 50+ Revenue: NA
HQ: London, UK Funds Raised $10.7m
Latest Financing Round: $6.2m
Latest Financing Valuation: NA
Services offered:
▪ Delivers on-demand insight based on its proprietary technology that captures and
interprets the radio frequency footprint of shoppers
Customers List: Sonae Sierra, Telefónica O2, Surfers Paradise, Broadbeach, South Port,
Urban Development Group and Menlyn Maine
Key facts:
▪ It has a substantial R&D facility in Porto, Portugal
▪ The company has clients across the US, Europe, Asia Pac & Africa
▪ Its proprietary technology captures and interprets the radio frequency footprint of
shoppers as they move around a physical environment
Profitect
Profitect is a provider of prescriptive analytics software
Founded: 2007 www.profitect.com
Employees: 50+ Revenue: NA
HQ: Waltham, MA Funds Raised $22.5m
Latest Financing Round: $7.2m
Latest Financing Valuation: $29.4m
Services offered:
▪ Provides a platform that leverages existing big data investments to identify, resolve, and
measure opportunities for retailers
▪ Its proprietary transformation engine intelligently transforms data using Profit
Amplification Suite, Software Suite and Mobile Field Application
Customers List: Abercrombie & Fitch, Ahold USA, Delek, King Kullen, Sally Beauty, Weis
Markets, Factory 54, Woolworths, Suitsupply
Key facts:
▪ It serves various sectors such as grocery, apparel, home improvement, health & beauty,
and departmental stores
▪ In January 2017, the company reported a 250% increase in its 2016 revenue as
compared to 2015 as well as twofold increase in customer portfolio
▪ It extends or replaces the clients existing business intelligence and exception-based
reporting tools with a product suite
Source: Company data, press releases and Pitchbook
25. CONFIDENTIAL
Select company profiles: Marketing
Company Profile Capabilities
Aisle411
Aisle411 is a provider of an in-store mobile marketing platform
Founded: 2008 http://aisle411.com
Employees: 20+ Revenue: NA
HQ: St. Louis, MO Funds Raised: $18.4m
Latest Financing Round: $6.3m
Latest Financing Valuation: NA
Services offered:
▪ The system collects, organizes and monetizes retailers' product inventory location data
and store maps to increase customer engagement
▪ The proprietary indoor mapping software and data optimization tools allow venue owners
to track asset locations indoors and in-store, glean insights on staff and guest traffic, edit
their data through a cloud-based map editor
▪ Include Aisle411 indoor mapping, Aisle411 AR solutions, Aisle411 Analytics turns indoor
positioning data into actionable insights and supports a wide variety of indoor positioning
technologies
Customers list: Walgreens, SuperValu, Mondelez international, Cub Foods, WinCo Foods,
Babies”R’”Us, HyVee, Shop’n Save, Giant Eagle, Dick’s Sporting Goods
Key facts:
▪ Has been implemented in over 14,000 venues across retail, offices, airports, conferences
and others
▪ Partnered with beacon and sensor providers, Apple Indoor Location, Google’s
augmented reality platform, Tango, and leading lighting provider, Philips, offering visible
light communication
eyeQ
eyeQ is a provider of interactive in-store digital displays
Founded: 2012 www.eyeqinsights.com
Employees: ~30 Revenue: NA
HQ: Austin, TX Funds Raised: $5.0m
Latest Financing Round: $3.5m
Latest Financing Valuation: NA
Services offered:
▪ An online platform that interacts with consumers, customizes content to each, and
recognizes and responds to emotion using shopper-aware digital displays
Key facts:
▪ The company allows brands to give offline customers a more personalized shopping
experience
▪ Currently, it is working with four brands, and it has been deployed in 30 total locations
▪ In 2016, the company raised funds for continuous technology development and product
enhancement and to expand the sales and marketing team, along with spending more
money on trade shows and other marketing events
25Source: Company data, press releases and Pitchbook
26. CONFIDENTIAL
Select company profiles: Marketing 2
Company Profile Capabilities
GPShopper
GPShopper is a provider of location-based, multi-platform
mobile marketing services for retailers and brands
Founded: 2005 https://gpshopper.com
Employees: 60+ Revenue: NA
HQ: New York, NY Funds Raised: $4.4m
Latest Financing Round: $3.0m
Latest Financing Valuation: NA
Services offered:
▪ The company’s integrated mobile commerce platform offers value-added native app
features for both Android and iOS, backed by mobile CMS and analytics tools that make
campaign set-up, management and reporting
Customers list: bebe, Best Buy, Foot Locker, Jo-Ann Stores, Michaels, PacSun, Steve
Madden and True Religion
Key facts:
▪ Forrester named GPShopper a Strong Performer in Mobile Commerce & Engagement
Platforms in 2015
▪ Partner with top commerce providers, in-store mobile companies, content management
system provider, mobile marketing program, loyalty programs & advanced analytics
▪ Also has an office in Chicago, IL
Koupon
Koupon is a provider of real-time store intelligence platform
that gathers offline data by crowdsourcing collection through
smartphones
Founded: 2011 http://kouponmedia.com
Employees: ~30 Revenue: NA
HQ: Addison, TX Funds Raised: $13.8m
Latest Financing Round: $7.1m
Latest Financing Valuation: $31.5m
Services offered:
▪ Delivers its product to consumers through QR code, bar code, text message, email or
social media websites
▪ Helps retailers and brands create and deliver mobile offers across distribution channels
and redemption points
Customers list: Dollar General, Speedway, Pepsi, Coca-Cola, Michaels, Great Lakes,
Thorntons, Victoria’s Secret, REGIS, Kwik Trip, Cumberland Farms, Mondelez International
Key facts:
▪ The company’s platform powers mobile offers for more than 43,000 retail locations and
the world’s largest CPG brands delivering more than 500 million offers since its founding
▪ The Offer Network connects leading CPG brands with a network of 30,000 convenience
and dollar stores to deliver mobile offers that grow sales
ShopAdvisor
A end-to-end mobile proximity company leading the pack in
location-based marketing innovation
Founded: 2011 www.shopadvisor.com
Employees: 20+ Revenue: NA
HQ: Concord, MA Funds Raised: $10.0m
Latest Financing Round: $1.2m
Latest Financing Valuation: $11.2m
Services offered:
▪ The company’s platform continually collects contextualized shopper, product and location
data and applies deep data analytics to deliver each consumer a uniquely personalized
and compelling shopping experience that spans from the point of discovery on their
mobile device into the store
Customers list: ELLE, Décor, Esquire, Essence, Details, HouseBeautiful, Jones, Marie
Clarie, Cosmoplitan, CountryLiving, CookingLight, Men’s Journal, WebMD, Woman’s Day,
Women’s Health, Popular Mechanics, Redbook, Notebook Review
Key facts:
▪ Over 35 companies have integrated mobile-marketing technologies to create these end-
to-end campaigns
▪ It serves media /publishers, brands, retailers, agencies, ad-tech and mall operators
26Source: Company data, press releases and Pitchbook
27. CONFIDENTIAL
Select company profiles: Other
Company Profile Capabilities
IndoorAtlas
Provider of an indoor positioning and mapping technology
Founded: 2012 www.indooratlas.com
Employees: 50+ Revenue: NA
HQ: San Francisco, CA Funds Raised: $14.5m
Latest Financing Round: $2.2m
Latest Financing Valuation: NA
Services offered:
▪ Provides magnetic field-based indoor location technology that utilizes magnetic
anomalies inside buildings and smartphones to pinpoint indoor positions
▪ The company’s platform allows clients to build location – based services using its way-
finding capabilities, search - point of interest database, multi-dot, and proximity marketing
Customers list: Baidu, Mumbai’s Chhatrapati Shivaji International Airport
Key facts:
▪ Over 25,000 developers around the world has used the company’s platform to build
location-based services for mobile apps
▪ Has offices in North America, Europe and Asia
▪ It has 8 patents; 25 patents pending globally
▪ The company offers a moving blue dot with 1-2 meter accuracy on the clients
smartphone in real time
One Door
One Door provides SaaS based retail solutions for
merchandising campaign planning, communication, and in-
store execution
Founded: 2000 www.onedoor.com
Employees: 120 Revenue: NA
HQ: Boston, MA Funds Raised: $16.5m
Latest Financing Round: $7.0m
Latest Financing Valuation: NA
Services offered:
▪ Visual Merchandising Manager, a retail communication platform and Point of Purchase
Manager that automates production quantity calculations based on individual store
attributes
Customers list: AT&T, Cox Communications, O2
Key facts:
▪ Has offices in Latin America, Europe, the Middle East, and Asia Pacific
▪ In December 2016, the company has been renamed as One Door, previously known as
RBM Technologies, focusing on a three year transformation including new capitalization,
a new leadership team, a global sales and support organization, and re-architecture of
their unique SaaS application
▪ Revenues: $20m ARR with a growth 100% (SaaS % of rev: 80%)
▪ It serves specialty retail, banking, quick service restaurants, and mobile industry through
partners in the US and internationally
Shelfbucks
Shelfbucks is an in-store smart shelf and smart display
platform
Founded: 2013 www.shelfbucks.com
Employees: ~30 Revenue: NA
HQ: Austin, TX Funds Raised: $8.7m
Latest Financing Round: $6.5m
Latest Financing Valuation: NA
Services offered:
▪ The company allows CPG's and retailers to measure, manage and improve the
effectiveness of in-store product merchandising programs. It automatically sends tasks to
stores which still have displays in the back room
Customers list: Walmart, Target, P&G, Unilever, Coca-Cola, GSK, Nestle, Pfizer, Revlon
Key facts:
▪ It is the number 1 in-store merchandising optimization and mobile media platform
▪ It integrates between merchandising, supply chain & store operations to ensure peak
performance
27Source: Company data, press releases and Pitchbook
28. CONFIDENTIAL
Select company profiles: Other 2
Company Profile Capabilities
Teamwork Retail
Teamwork Retail provides software services for the retail
market including POS and CRM solutions
Founded: 2005 www.teamworkretail.com
Employees: 50+ Revenue: NA
HQ: Clearwater, FL Funds Raised: NM
Latest Financing Round: NM
Latest Financing Valuation: NA
Services offered:
▪ Provides cloud-based management and mobile point-of-sale services for mid-tier retailers
worldwide to increase business efficiency and analytics
▪ It offers CRM suite to combine with retail mobile POS system and retail management
solution
▪ Products include Mobile POS, Dashboard, Time Card, Scheduler, Stock Count,
Shipments, analytics, shopper display and member
Key facts:
• The company’s owners have invested approx. $12m into the business
• Recently signed a deal with Apple to expand the company to Brazil
• Projected to grow from $1.5m (2013) to $8m (2017); not including recently won Apple
deal)
• Saas is growing 60-70% y/y with limited capital
• Focused on expanding operations across London and Paris
28Source: Company data, press releases and Pitchbook