NewStore Continues Leading Mobile Retail Industry with $50 Million Series B
Activant Capital joins General Catalyst and Stephan Schambach in funding the company transforming retail to thrive in a mobile world
July 18, 2017
BOSTON, MA – July 18, 2017 – NewStore, Inc., the Mobile Retail Platform founded by the creator of Demandware (now Salesforce Commerce Cloud), Stephan Schambach, today announced it has secured $50 million in Series B funding. Activant Capital, who led the round, joins returning investors General Catalyst and Stephan Schambach. The round cements NewStore as the dominant player in mobile commerce. Total capital raised to-date now stands at $90 million. The company will use the investment to expand its innovative platform and rollout the solution for retailers looking to realize their omnichannel aspirations.
The NewStore Mobile Retail Platform is the most customizable end-to-end solution for delivering anytime, anywhere retail. Built mobile-first with a modern software stack, it works with all existing ecommerce platforms and eliminates the need to patch together disparate point solutions.
“The future of retail is mobile. We are the only platform that delivers a full end-to-end omnichannel experience, from app to aisle. We take care of the heavy lifting for retailers, so they don’t need to spend precious resources on software development,” said Stephan Schambach, Founder and CEO, NewStore.
Consumers have fundamentally changed, and retail must transform for the mobile age in order to build relationships and keep loyal customers. The NewStore Mobile Retail Platform seamlessly connects consumers to associates and products.
“Shopping has become a streaming activity. Consumers want to check inventory, browse products, place orders and write reviews at their own convenience – on a mobile phone. They can create a shopping experience at anytime they want, tailored specifically for them. Think of it as ‘Streaming Retail,’” Schambach said.
“Nearly every industry in the world has been disrupted by mobile, and one of the most affected is retail. Consumers demand seamless experiences across channels, and brands are ill equipped to deliver,” said Steve Sarracino, Partner, Activant Capital, and newest member of the Board of Directors at NewStore. “The NewStore Mobile Retail Platform makes omnichannel a reality. We see mobile capturing an ever-growing portion of the $24 Trillion worldwide retail market, and NewStore is at the epicenter of that transformation.”
“Stephan is an industry visionary. He has invented, re-invented and disrupted retail since the early 1990s,” said Larry Bohn, Managing Director, General Catalyst. “As with Stephan’s previous ventures backed by General Catalyst, NewStore has enormous potential and will unlock incredible value for the retail industry.”
For brands looking to create the ultimate omnichannel experience, the NewStore Mobile Retail Platform seamlessly connects consumers to associates and products. It integrates with existing ecommerce platforms such as Salesforce Commerce Cloud, SAP Hybris, Oracle ATG, and Magento. Unlike point solutions that create complexity and friction, NewStore delivers an end-to-end customizable platform built from the small screen up. NewStore was founded by Stephan Schambach, creator of Demandware (now Salesforce Commerce Cloud) and author of Makeover: How Mobile Flipped the Shopping Cart. The company is headquartered in Boston, with offices in New York and Berlin. For more information, visit www.newstore.com.
Director of Corporate Communications, NewStore