Singlespot raises €6 million in Series A to accelerate its development in the Retail Tech scene in Europe
The European Venture Capital fund Iris Capital, is announcing its lead investment in the data marketing start-up Singlespot, along with financial investors, for a total of €6 million.
Thomas Opoczynski and Alexandre Fortoul co-founded Singlespot in 2015 to help retailers and distributors leverage the power of mobile and digital as marketing weapons. As the e-commerce market keeps growing in France (€80 billion, +14.3% of sales in 2017, traditional retailers have to duplicate their efforts to bring customers back to store. SingleSpot offers offline retailers technological tools to better understand customers’ behaviour, increase traffic in stores and optimise their points of sales management.
This funding will allow this European start-up to improve its high class geolocalisation technology analyzing mobile users’ behaviour. Today, Singlespot is able to reach 1/3 of mobile users in France and provides its customers with the most reliable qualified data on the market.
Singlespot counts more than 50% of engineers in their team, thus constantly leveraging their technological breakthrough. The start-up is also planning on developing a predictive solution to better advise their clients in their in store performance analysis, through a more advanced algorithm. This is key as retail still accounts for 90% of sales in France.
This investments will also help Singlespot to consolidate its rapid growth on the French market and support its development in the United Kingdom, Germany, Spain and Italy in 2018. Singlespot currently works in France with a hundred brands, including industry leaders in mass retail, automotive and food services.
"This first fund raising led by the European leader VC Iris Capital validates our technological excellence and will help us address new prospects in France and Europe after a year of very strong growth. Retailers are beginning to grasp the full potential of mobile beyond the drive-to-store. The partnerships with trusted third parties coupled with the upcoming implementation of the GDPR, which we have integrated into our business model, will create the conditions for increased confidence in the deployment of drive-to-store mobile campaigns in the very short term," Singlespot's two co-founders, Thomas Opoczynski and Alexandre Fortout, are delighted.
Stéphane Pesqué, Partner at Iris Capital, adds “The rapid growth of Singlespot, the level of demand of the co-founders combined with the growth perspective of RetailTech, convinced us to support this start-up. Mobile is a key weapon for traditional retailers to compete against e-commerce players. Singlespot also allows retailers to optimize their performance in their point of sale and create a real value.”
Singlespot is a French start-up specialised in the collection, processing and interpretation of anonymous geolocation data. Co-founded in 2015, Thomas Opoczynski and Alexandre Fortoul have the ambition to bring into traditional retailers the technological and marketing advances already used within the e-commerce industry. Singlespot technology permits better understanding of their customers’ loyalty and increases stores performance. Working with hundreds of brands in the automobile and retailer industry, Singlespot relies on the most precise GPS technology with an audience of over 12 million mobile users
About Iris Capital
Iris Capital is a European venture capital funds’ manager specialized in the digital economy. It fuels entrepreneurs at various stages of maturity, from early-stage to growth equity. With its deep sector specialization and extensive experience acquired over 30+ years, as well as the backing of its corporate sponsors, Iris Capital provides active support to its portfolio companies, through its presence in Paris, Berlin, San Francisco, Tel Aviv, Tokyo and Dubai.
IrisNext, Iris Capital’s new fund, includes for its first closing industry leaders such as Orange, Publicis and Valeo, joined by financial investors and institutions such as Bpifrance and BRED Banque Populaire. Iris Capital investments include, among others, companies such as Adjust, Careem, Kyriba, Mojio, Mopub, Netatmo, ReBuy, Scality, Searchmetrics, Shift Technology, Talend and Unu Motors.
For more information, visit www.iriscapital.com