News

Digital signage shelf tag firm announces $21M in funding

July 10, 2014

Wireless in-store digital signage shelf tag provider Altierre Corp. today announced that it has secured more than $21 million in financing that will be used to support the company’s strategic global growth plans. The financing was co-led by new investor Stratim Capital and D.E. Shaw and Co., and included Altierre's existing investors ATA Ventures, DuPont Capital Management, Labrador Ventures and Kinetic Ventures, according to the announcement.

Altierre provides ultra-low power long-range wireless technology for the "Internet of Things" and for applications deployed at retail in more than 1,000 cities, the company said.

"Our proprietary wireless technology is installed at thousands of retailers' stores today, and this financing will provide the necessary resources to expand that to thousands more," Altierre Chairman and CEO Sunit Saxena said in the announcement. "We are now well capitalized to lead the charge in bringing the Internet of Things to retail aisles globally and enhance efficiencies within retail stores."

According to Altierre, millions of its digital signs are currently installed and operating nationwide in retail stores in more than 1,000 U.S. cities, including the Kohl's retail chain, as well as several hypermarket stores operated by E.Leclerc across France.

"We are glad to join Altierre's stellar group of investors," said Zach Abrams, founder and managing partner with Stratim Capital. "There is a large market opportunity for Altierre to expand efforts with their low-power wireless platform and applications, and this additional financing will help the company further penetrate the price and promotion automation process while enabling personalized marketing opportunities within the global retail market place."