Point Inside CEO Josh Marti can’t quite keep up with the momentum right now. His Bellevue mobile shopping analytics and mapping upstart plans to more than double sales this year, driven in part by two of the country’s top 10 retailers who plan to roll out the company’s platform.
To keep up with that demand and keep pushing things ahead, Point Inside just received another piece of good news. It has secured $3.2 million in angel financing from investors in Seattle and Silicon Valley, bringing total financing in the company to about $6.5 million, according to a SEC filing.
“The company has had a very good year,” admits Marti. Point Inside is looking to capitalize on a big trend, one that we wrote about earlier today with the financing rounds of LevelUp and FiveStars. That is the melding of physical and digital retail.
The company’s technologies are being deployed by retailers to guide shoppers more efficiently through the aisles, offering discounted products tailored to individuals and giving recommendations. For example, a shopper searching for a lamp could get a notification on discounts for lightbulbs in aisle seven.
As we noted earlier today, there’s a lot of activity in this space right now, helping retailers take better advantage of the people who set foot in their stores. Many companies are taking a direct-to-consumer approach, but that’s not the strategy at Point Inside.
“We are partnering with retailers, and trying to drive in-store purchases, not online purchases,” said Marti. Many retailers in his view have attempted to take online strategies, and simply shrink them down for the mobile environment and in-store experience.
But Marti said that approach usually doesn’t work. “What they sell online is vastly different from what they sell in the store.”
Point Inside continues to grow rapidly, with expectations to continue doubling sales. It now employs 40 people, with plans to reach as many as 70 by the end of the year.
Hiring remains a major focus, with Marti adding that “we are in a frenzy from here until Black Friday.”
Previously on GeekWire: Point Inside pinpoints new cash, helps shoppers navigate malls and grocery stores