Pointy, the startup that provides tech to help bricks and mortar retailers put their inventory on-line in order that it may be came upon by the use of search engines like google and yahoo, has picked up $12 million in new investment. The Series B spherical is led Polaris Partners and Vulcan Capital, and brings general investment for the Irish corporate to $19 million.
Founded at the premise that folks continuously lodge to e-commerce behemoths like Amazon as a result of they may be able to’t to find the similar merchandise in the community, Pointy has evolved a and cloud tool resolution that makes it simple to create a bespoke site as manner of creating native inventory discoverable on-line. Specifically, the ”Pointy field” machine connects to a shop’s barcode scanner and mechanically places scanned pieces on a Pointy-powered site for the shop.
Store pages are then optimised for search engines like google and yahoo, in order that whilst you seek for merchandise in the community — say your favorite artisan beer — a Pointy-powered consequence presentations up and encourages you to consult with the shop and make a purchase order. In different phrases, that is about serving to native retailers power extra footfall, however with little or no further overhead.
Pointy CEO and co-founder Mark Cummins says the Series B spherical will probably be utilized by the startup to boost up expansion and construct on an higher uptake via U.S. retailers. It these days counts five,500 retailers the use of Pointy in general, with 70 p.c from the U.S, and the rest in Canada, U.Okay. and Ireland. “To put the U.S. number in context, just under 1 in 200 U.S retailers is now using Pointy,” an organization spokesperson tells me.
Since we closing coated Pointy, the began has prolonged its succeed in significantly with partnerships with Lightspeed, Clover and Square, which permits retailers the use of those POS methods to use the Pointy platform totally free as it doesn’t require the acquisition of the $499 Pointy instrument. It has additionally partnered with Google by the use of the hunt large’s new See What’s In Store (SWIS) program in order that consumers can uncover what a shop sells inside of Google’s seek and maps pages.
“For all the hype around e-commerce and the media narrative of ‘Retail Apocalypse’, people still make the vast majority of their purchases in local stores,” provides Cummins in a commentary. “But local retailers have lost out in not having their products visible online – we solve that problem for them”.
Meanwhile, Point’s previous backers come with Draper Associates, Frontline Ventures, and notable angel traders equivalent to Matt Mullenweg (founding father of WordPress), Lars Rasmussen (co-founder of Google Maps), Taavet Hinrikus (co-founder of TransferWise), and Michael Birch (co-founder of Bebo).