Market Overview

HEROFi Secures $3.5 Million Seed Round for Retail Revenue Optimization Platform

Share:

Strategic Investment Earmarked for Expansion of HEROFi's Guest
Experience Platform Features and Functionality

HEROFi, a revenue optimization company for physical retail, today
announced that it has completed a convertible debt financing of $3.5
million.

HEROFi, founded in 2014, specializes in using its intelligent
orchestration platform to drive proven revenue through real-time product
packaging and pricing. HEROFi's clients use real time data - such as
sales, inventory, weather, traffic and more - to create better and more
effective consumer in-store experiences. In addition to its current
client base of leading companies in the restaurant (Buffalo Wild Wings),
gaming (Pechanga), and shopping mall (Westfield Malls) industries,
HEROFi is close to completing agreements with major footwear and QSR
companies as well as with a leader in the casino sector.

The financing included a number of well-known angel investors including
Jeff Vinik, the current owner of the Tampa Bay Lightning, and the former
manager of Fidelity Magellan Fund and hedge fund Vinik Asset Management;
Rob Soni, a former partner at Matrix and Bessemer Ventures; and John
McDonnell, Managing Director International, Fifth Generation Spirits,
Inc.

The financing provides HEROFi with adequate working capital to continue
to expand and rollout its award-winning Guest Experience Platform (GXP)
- which is already available in over 1,300 retail locations in 8
countries. By ingesting and processing external and internal data in
real-time, the platform enables clients to respond immediately to
changing business conditions. HEROFi works closely with clients to
create rules applicable to their business and to launch and scale
successful projects quickly and efficiently. HEROFi's platform drops
into almost any existing technology environment, and provides a simple
interface that anyone can use.

"We aim to fundamentally change the way retail operates. The GXP
platform gives retail operators the ability to blend a broad variety of
data sources, react to this data in real time, and do it at the
individual store level in an automated and simple way," said Vladimir
Edelman, Chief Executive Officer of HEROFI. "Today's announcement allows
us to keep innovating and developing key features for blue-chip clients
already working with us to optimize their revenue, and helps us continue
to produce material and provable ROI for all of our clients."

About HEROFi

HEROFi, founded in 2014, puts physical retail on equal footing with
digital commerce, maximizing ROI by infusing physical places with the
same speed, convenience and relevance customers now expect from the
digital world. HEROFi's Guest Experience Platform (GXP) produces more
relevant digital messaging and better consumer engagement, through the
use of real time data to drive consumer communication through digital
signage, mobile apps, tablets, e-mail and loyalty programs. HEROFi has
generated results by focusing on the things that matter most: sales,
visit frequency, check lift, profitability and conversion. HEROFi's
patented GXP ingests and processes external and internal data from
myriad sources in real-time to enable immediate responses to business
realities applying intelligent rules, machine learning, and AI. The
platform scales to thousands of client locations instantly and is built
specifically for the retail environment. HEROFi's award-winning
solutions have delivered proven, material results at scale for Buffalo
Wild Wings, and its current clients also include Pechanga, Westfield
Malls, and multiple others in retail sectors such as shoes, QSR,
convenience, and hospitality. HEROFi's headquarters are in San Diego,
California. For more information or to request a demo, visit HEROFi.com.

View Comments and Join the Discussion!