Exclusive: Raydiant acquires shopper marketing analytics firm Perch
Raydiant will acquire Perch as it seeks to add real-time insights to its software platform, CEO Bobby Marhamat tells Axios exclusively.
Why it matters: As shopping shifts to a blend of remote screens and in-store interactions, retailers keep seeking ways to improve the complete customer experience.
What's happening: The acquisition was financed with a mix of mostly equity and some cash, Marhamat says. (He declined to disclose the deal value.)
- New York-based Perch, which provides interactive displays and smart-shelf technology, will be integrated into Raydiant's Shop offering. The enhanced tool will give retailers the ability to understand and analyze customer interactions with in-store products.
- Perch already serves retail brands like Johnson & Johnson, Nestlé Purina, Unilever, Invisalign and Coty.
How it works: San Francisco-based Raydiant's platform lets retailers create customizable digital signage that can be used to monitor real-time shopper insights, like product engagement behaviors and how product interaction drives sales.
- Raydiant's solutions can be adopted in retail stores, kiosks and virtual agents.
- The company has a marketplace with over 150 partners where retailers can go deeper into certain experiences they want to create.
- Raydiant works with around 4,500 brands across retail, restaurants, hospitality, banking and media.
- First Bank, Harvard University, Red Bull, Chick-fil-A, Thomson Reuters and the Wahlburgers, the restaurant chain owned by the Wahlberg brothers, are among its customers.
What they're saying: "A large portion of what we help brands do is realize how to get those customers back into locations, how to create that loyalty and be able to build more of those relationships with their end users and customers," Marhamat says.
- Perch employs so-called "lift and learn technologies," giving shoppers information about products they pick up.
- The capabilities let customers "visualize a lot of what a product looks like, even if you don't have that exact product in store," Marhamat says.
What's next: Raydiant is eyeing global expansion, such as in Europe and Australia, Marhamat says.
- The company also aims to develop tools for larger brands and integrate with more applications.
Flashback: Raydiant raised $30 million in a Series B round in February co-led by 8VC and Atomic Ventures.
- Lerer Hippeau, Gaingels, Illuminate Ventures, XRC and Mark Wahlberg participated.
- Founded in 2017, Raydiant has raised $50 million to date.