CitiXsys wins $60m funding led by Goldman Sachs
Retail-technology pioneer CitiXsys has closed a US$60 million funding round led by Goldman Sachs Merchant Banking Division.
With its software platform iVend Retail, CitiXsys provides integrated omnichannel solutions for the retail and hospitality industries with its software used in over 95 countries and has raised $105 million to date.
“CitiXsys’ innovation adds value for retailers around the world with a best-in-class solution,” said Terence Doherty, MD at Goldman Sachs Merchant Banking Division
CitiXsys is targeting large retailers who are positioning themselves to boost sales by embracing a new form of retail: that of a physical and digital hybrid business wherein the customer can choose at any time its omnichannel purchase method.
The company’s solution is designed to enable retailers to compete in virtually any sales channel, providing personalised, consistent customer experiences customers by integrating sales, promotions, in-store and mobile point-of-sale transactions, customer relationships, accounting processes, e-commerce, inventory and fulfillment, loyalty programs, product and pricing management, and analytics.
Its clients include Samsonite, Vodafone, MTN Telecom, Virgin Mobile, The Body Shop, Asics, Kazyon, The Vitamin Shoppe, Goodwill Industries and Havaianas.
Kamal Karmakar, CEO of CitiXsys, says the funds will help the company expand internationally.