Retail analytics platform POSpulse has announced a funding round of €3 million. The investment included new investors: Paul Kraut, former managing director of toy manufacturer Schleich and Follow the Rabbit Ventures. Existing shareholder High-Tech Gründerfonds (HTGF) also participated.
The German startup has built a platform for crowdsourcing retail and customer data. Users serve as “scouts” to gather data on point of sale experience and service quality and generates recommendations for business owners.
“This new development – market research in real time via a platform – will significantly accelerate the decision-making process at companies, in turn providing a boost to the sales and marketing performance of our clients. We are convinced that this approach will have a lasting effect on future market research,” said Dominic Blank, managing director of POSpulse.
Last year the company expanded into Italy, Spain, Poland, and the Czech Republic, and plans to use these new funds for further internationalization. Metro, Vodafone, and Yakult are among its client base.