US-based e-commerce analytics company RetailNext closed a $30m series D round on Tuesday led by the corporate venturing arm of Nokia, Nokia Growth Partners (NGP).
The round also featured Qualcomm Ventures, the corporate venturing division of US telecommunications equipment manufacturer Qualcomm, conglomerate Tyco and payment services firm American Express’ venture capital unit, along with Activant Capital Group and existing shareholders August Capital, StarVest Partners and Commerce Ventures.
Formerly known as BVI Networks, RetailNext provides data analysis services to retailers and measures the behaviour of more than a billion shoppers each year based on data from sensors in retail stores.
The capital will be used to develop RetailNext’s existing products and to boost research and development spending.
RetailNext raised $15m in a series C round in 2013 from a consortium including NGP, and $8m in a series B round in an August Capital-led series B round in 2011. The company raised approimately $6.1m in early stage funding between 2008 and 2010, according to SEC filings.