Walkbase, the retail analytics company, has raised three million euros in Series A funding from SBT Venture Capital and Olli-Pekka Kallasvuo, former CEO of Nokia.
Walkbase plans to invest the funds in strengthening its sales, marketing and customer-insight teams, as well as accelerating its growth strategy to become the leading marketing optimisation platform for omni-channel retail in Europe, the Middle East and Africa as well as Russia.
Walkbase helps retailers increase sales, boost the performance of their marketing and operations by measuring factors such as foot traffic, visit duration, and customer loyalty.
— Even though online buying is steadily growing, 92 per cent of retail sales still take place in physical stores, says Tuomas Wuoti, CEO & co-founder of Walkbase.
— A prime advantage of online has been the ability to accurately measure buyer behaviour. Thanks to new technology, this ability is now spreading to offline retail…and Walkbase is leading that disruption.
The company’s current clients, many of whom are UK-based, include top brands in the fields of automotive retail, banking and fashion retail.
Walkbase is currently evaluating opportunities to start additional pilots with a number of high street retail chains in the UK.
The investment round is being led by SBT Venture Capital, whose principal investor is Sberbank, the largest bank in Russia and Eastern Europe.
Article is published in cooperation with Good News from Finland.