NewStore, an omnichannel store solution provider, has secured 45 million dollars in Series B-1 funding. This strategic investment comes after the company saw significant global growth in the first half of 2021, in which it grew its SaaS revenue over 100 percent year-over-year. These wins also expanded NewStore’s geographic footprint, which now includes 20 countries across North America, Europe, and Asia Pacific.
The success of NewStore stems from the company’s flexible and easy-to-use omnichannel store solution. As the retail industry takes a more omnichannel approach, NewStore is positioned to support brands of all sizes. This is because the platform was built from day one as a native SaaS, cloud-based solution.
“The pandemic created a rush to adopt omnichannel in the retail industry, and NewStore’s platform was perfectly positioned to help the brands looking to make the transition,” said Stephan Schambach, founder and CEO of NewStore, in a statement. “By providing omnichannel-as-a-service that can be activated in-store with just an iPhone, we give retailers a turnkey solution for everything from BOPIS to store fulfillment to remote selling, and more. This is the foundation of our success, and the latest investment will allow NewStore to build on this momentum as omnichannel continues to be a strategic imperative for all retailers.”
NewStore also achieved a number of other key milestones in the past year including signing deals with multiple brands, like Burton Snowboards and Marine Layer, and expanding to several hundred retail stores across North America, Europe, and Asia Pacific. In addition NewStore has also improved capabilities around inventory management, offline POS resilience, and clienteling. This past April, NewStore was also admitted to the MACH Alliance, the group of independent tech companies dedicated to advocating for open, best-of-breed technology ecosystems, for its innovative approach to technology.