NewStore Receives Strategic Investment From Salesforce Ventures
NewStore, an Omnichannel-as-a-Service provider, is starting 2020 with $20 Million in strategic investments and significant customer momentum. Brands -including UNTUCKit, Decathlon and Outdoor Voices – benefit from using the NewStore Omnichannel Platform to manage all aspects of the customer selling process, in-store operations, and real-time inventory management. The platform helps several hundred stores globally run retail operations on iPhone.
Salesforce Ventures has invested in the company in addition to new funding from existing investors including Activant Capital, General Catalyst and NewStore Founder and CEO Stephan Schambach.
Retailers have long faced hurdles in offering a seamless interaction between online and brick-and-mortar. Connecting legacy systems and outdated technologies is time-consuming and cumbersome, creating friction behind the curtains and on the store floor. With NewStore, retailers operate a seamless end to end experience across all touchpoints, unlocking in-store revenue drivers including endless aisle, mobile checkout, store inventory and clienteling.
“We’ve witnessed an interesting life cycle in retail over the last few decades. Brands have pivoted between channels, trying to meet shoppers where they are. But today’s shoppers are everywhere, and don’t see in channels, which is why omnichannel is a strategic imperative,” said Stephan Schambach, Founder and CEO, NewStore. “It’s not easy to operate stores in today’s digitally-driven world. Despite stores being a source of great frustration, they also represent a major opportunity. NewStore is the most complete and compelling solution for retailers.”
“We’re excited for NewStore’s integration with our AI-powered commerce platform and new Salesforce Order Management system,” Mike Micucci, CEO, Salesforce Commerce Cloud. “This gives customers even more choice in how they deliver omnichannel experiences to keep pace with the rapidly changing needs of their shoppers.”