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NewStore Accelerates Momentum with $20M in Strategic Investments and International Customer Launches

Omnichannel-as-a-Service unlocks in-store revenue drivers for global luxury, lifestyle and apparel brands

NewStore receives strategic investment from Salesforce Ventures

BOSTON and NEW YORK, Jan. 12, 2020 /PRNewswire/ -- NewStore, an Omnichannel-as-a-Service provider, is starting 2020 with $20M in strategic investments and significant customer momentum. Brands - including UNTUCKit, Decathlon and Outdoor Voices - benefit from using the NewStore Omnichannel Platform to manage all aspects of the customer selling process, in-store operations, and real-time inventory management. The platform helps several hundred stores globally run retail operations on iPhone.

Salesforce Ventures has invested in the company in addition to new funding from existing investors including Activant Capital, General Catalyst and NewStore Founder and CEO Stephan Schambach.

Retailers have long faced hurdles in offering a seamless interaction between online and brick-and-mortar. Connecting legacy systems and outdated technologies is time-consuming and cumbersome, creating friction behind the curtains and on the store floor. With NewStore, retailers operate a seamless end to end experience across all touchpoints, unlocking in-store revenue drivers including endless aisle, mobile checkout, store inventory and clienteling.

"We've witnessed an interesting life cycle in retail over the last few decades. Brands have pivoted between channels, trying to meet shoppers where they are. But today's shoppers are everywhere, and don't see in channels, which is why omnichannel is a strategic imperative," said Stephan Schambach, Founder and CEO, NewStore. "It's not easy to operate stores in today's digitally-driven world. Despite stores being a source of great frustration, they also represent a major opportunity. NewStore is the most complete and compelling solution for retailers."

"We're excited for NewStore's integration with our AI-powered commerce platform and new Salesforce Order Management system," Mike Micucci, CEO, Salesforce Commerce Cloud. "This gives customers even more choice in how they deliver omnichannel experiences to keep pace with the rapidly changing needs of their shoppers."

Join NewStore for a session at NRF Big Show 2020 to learn how GANNI put omnichannel at the core of its retail strategy, presented together with GANNI and Salesforce.

About Salesforce Ventures
Salesforce, the global leader in CRM, empowers companies to connect with their customers in a whole new way. Salesforce Ventures — the company's corporate investment group — invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform. Portfolio companies receive funding, access to the world's largest cloud ecosystem and guidance from Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 275 enterprise cloud startups in 17 countries since 2009. For more information, please visit www.salesforce.com/ventures.

About NewStore
NewStore operates the first cloud platform that enables retailers to run their stores on iPhone. The company provides Omnichannel-as-a-Service with intuitive store associate apps that unlock in-store revenue drivers for global luxury, lifestyle and apparel brands. Endless aisle, clienteling, store fulfillment, inventory management, and mobile checkout help brands like UNTUCKit, Decathlon, and Outdoor Voices deliver seamless shopping experiences. NewStore was founded by Stephan Schambach, who pioneered ecommerce at Demandware (now Salesforce Commerce Cloud). The company has offices in Berlin, Boston and New York. Learn more at www.newstore.com.

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SOURCE NewStore