US-based e-commerce platform operator PredictSpring closed an $11.4m series A round on Tuesday featuring Novel TMT Ventures, a subsidiary of telecommunications firm Novel Group.
The round was led by venture capital firm Felicis Ventures and included VC firm Beanstalk Ventures and family office Benvolio Group.
PredictSpring runs a mobile e-commerce platform that powers the mobile retail offerings for fashion brands such as Calvin Klein or Claire’s. The platform includes features such as real-time inventories, fingerprint checkout and geofenced notifications.
The company plans to now open a global office in Europe and will also hire engineers and sales staff in Silicon Valley and in New York City. Aydin Senkut, managing director of Felicis Ventures, and Ken Seiff, managing partner of Beanstalk Ventures, have joined PredictSpring’s board of directors.
PredictSpring previously received $2m in seed funding from Novel TMT Ventures and Beanstalk in August 2015.
Nitin Mangtani, founder and chief executive of PredictSpring, said: “We are in the midst of a fundamental shift in consumer behaviour and buying patterns. Today’s consumer expects instantaneous response times and the ability to shop anywhere, anytime with a single touch of a button.
“Our mobile commerce platform leapfrogs existing mobile app technology and for the first time provides a seamless omni-channel experience for consumers and store associates.”