Retail strategy has changed a lot in the past few years, thanks in large part to the growth of e-commerce. Now, more and more shoppers are spending their money online instead of in stores.
That’s not to say that retail is extinct — SoHo and 5th Avenue are still lined with stores selling products from the fanciest brands — companies just have to be extra deliberate when choosing to open an expensive retail location.
SimpliField launched to help them do that. The Parisian startup has created an analytics platform that allows businesses to use data to make informed decisions in their retail strategies. Some of the largest brands in cosmetics and luxury goods use the SimpliField platform, including LVMH, L’Oreal, Estée Lauder, Samsung and Sony.
On Sunday, SimpliField announced in a press release that it raised $11 million in a Series A funding round. This new funding will help fuel the company’s U.S. expansion. The company currently works with over 120 clients in 30 countries, but it’s looking to strategically grow in America.
For this reason, SimpliField also announced the opening of its new New York-based headquarters. The HQ will act as the company’s U.S. base of operations, and will open up in early February.
In addition, SimpliField is ramping up its hiring efforts. The company is filling roles in sales, marketing and product development in an attempt to bolster its expansion goals.