Brick-and-mortar businesses are already up against the wall when it comes to competing against the technology that fuels online competitors. Nomad Go, the Bellevue, Wash.-based startup that uses artificial intelligence and real-time data to improve operational efficiency, aims to level the playing field a bit — and $2.7 million in new funding should help.
Backed by Flying Fish Partners, along with Fitz Gate Ventures and Vulcan Capital, Nomad Go announced the raise of seed capital on Thursday, which it intends to use to scale sales and expand product offerings.
Flying Fish’s Heather Redman has also been added to Nomad Go’s board of directors.
“Brick-and-mortar businesses today use manual tools like stop watches, surveys with tiny sample sizes, and anecdotes to make critical business decisions about their operations,” David Greschler, co-founder and CEO of Nomad Go, said in a news release. “Nomad Go provides physical commerce — such as fast casual restaurants and retail — with real-time data and business intelligence about their store operations to make changes that improve customer experience and increase their bottom line.”
Launched in 2016, Nomad Go was profiled as a “human billboard” marketing platform in a 2017 GeekWire Startup Spotlight. Today, co-founder and CRO Jonah Friedl said that it only takes a week of data from Nomad Go to help businesses identify best practices and improve such things as customer throughput, customer satisfaction, speed of service and store-by-store comparisons.
“Brick-and-mortar has been at a real disadvantage when you compare the insights they have access to versus online retailers,” Redman said. “Think of Nomad Go as Google Analytics, but for the real world.”
The investment by Flying Fish continues a streak this month for the Seattle-based venture firm. Earlier this week, Rammer.AI announced that it had raised $1.8 million in a seed round led by Flying Fish. The startup is developing software that allows companies to generate insights from voice or text conversations natively as part of their existing tools.