Altierre adds $8 Mn to Series C funding round
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Altierre adds $8 Mn to Series C funding round

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San Jose: Altierre, a provider of wireless dynamic pricing solutions for retailers, has announced that it has raised an additional $8 million in a second closing of its Series C funding round, bringing the total to $30 million. Participating in Altierre?s second closing were previous investors the D. E. Shaw group and Labrador Ventures. Altierre has raised a total of $60 million to date.

"We are seeing substantial customer interest in our solution, and this additional funding will further enable us to scale toward multiple implementations in the near future. The second closing of the Series C round continues to demonstrate our investors? enthusiasm for our technology, and our highly differentiated and strategic approach to a large market opportunity," said Altierre Chairman and CEO Sunit Saxena.

Altierre has been co-developing its wireless dynamic pricing solution under signed agreements with several of the United States? top 10 grocery chains. With a fully functioning, end-to-end solution, the company is now executing its breakout strategy to directly address this significant opportunity.
?Given the excellent progress Altierre has made with its co-development retail partners, we have confidence that Altierre is on track to begin multiple customer implementations in the near future,? said Andre Turenne, a senior vice president within the D. E. Shaw group?s venture capital unit, and member of Altierre?s board of directors.

Altierre has developed a proprietary, turnkey hardware and software platform that features low-cost, long-range RFID technology and back-end data-management capabilities designed specifically for major retail chains. The Altierre solution provides rapid return on investment by efficiently delivering real-time, chain-wide dynamic pricing and shelf promotions, improving price accuracy, sharply reducing costs and paper waste, and enabling targeted communications with customers and employees. Electronic shelf labels, point-of-purchase messaging and a broad range of other functions have been built into the company?s unified platform.

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