RetailNext, a US-based provider data analysis services to retailers formerly known as BVI Networks, has raised $15m in its series C round from a consortium including phone maker Nokia’s corporate venturing unit.
Alongside Nokia Growth Partners (NGP), were venture capital firms StarVest Partners, which led the C round, Commerce Ventures and August Capital. This round brings the total capital raised by RetailNext to $29m, including its $8m B round in August 2011.
John Gardner, managing partner at NGP, joined as a board observer and said: “RetailNext’s unique combination of video, Wi-Fi and mobile data collection enables a real breakthrough in how both offline and online sources will improve ROI for retailers.
“By combining the NGP local everywhere approach and Nokia’s location expertise, we will help RetailNext drive its international expansion.”
Separately, newswire Bloomberg said NGP was planning to invest in Pelican Imaging, a US-based start-up in smartphone imaging previously backed by the US government’s quasi-corporate venturing unit, In-Q-Tel (IQT).
In October 2010, Pelican raised $10m in its B round from Globespan Capital Partners, Granite Ventures, InterWest Partners and IQT. A $7m A round July 2009 and undisclosed amount from IQT had been its previous funding.