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Raydiant Acquires Retail Technology Perch

September 30, 2022
September 30, 2022
PERCH

Raydiant, the industry-leading in-location experience platform, today announced its acquisition of Perch, retail's leading digital shopper marketing platform for in-store product engagement and sales.

WHO: Perch was founded in 2012 with a transformational vision for the physical retail industry. By overlaying digital experiences on top of physical products, retailers and brands can enrich the shopping experience, drive remarkable product conversion lift, and surprise and delight their customers. A recognized leader in digital shelf technologies, Perch was responsible for the largest lift-and-learn deployments to some of the world's most recognizable retail brands, including Johnson & Johnson, Nestlé Purina, Unilever, Invisalign, and Coty.

Founded in April 2017, Raydiant is the leading in-location experience platform for the world's largest brands in restaurants, retail, hospitality, banking, and more. With Raydiant, franchise managers, IT, marketing, and communications executives can scale their brick-and-mortar operations more effectively and seamlessly create more engaging and personalized in-store experiences. Raydiant works with nearly 4,500 brands.

WHY: This acquisition will provide a deeper understanding of shopper behavior and unparalleled product engagement insights. Integrated into the new Raydiant Shop offering, this acquisition ushers in what will be the only contextual physical and digital retail experience platform. Combined with Raydiant AI and its customer experience platform, Perch's technology will be able to fully understand and analyze how customers interact with in-store products.

IN THEIR OWN WORDS: "As a current Perch customer, we couldn't be more excited about Raydiant's acquisition," said Kenny Endermuhle, Category Experience Design Manager at Nestlé Purina. "It accelerates meaningful AI and data capabilities, and enables us to provide our retail partners next-generation omnichannel shopper experiences that will help drive the category forward."

"To thrive in the world of brick-and-mortar, companies must move beyond traditional physical and digital signage," said Raydiant Chief Executive Officer Bobby Marhamat. "Companies need to be bold and unapologetic when it comes to creating in-store experiences for their customers. But they also need data and insights to develop those experiences. This acquisition will enable us to equip brick-and-mortar retailers with the best tools to generate the right insights to deliver the most personalized in-store content. We need to rapidly evolve in order to create the most engaging customer experiences and Raydiant's acquisition of Perch marks a huge turning point for the retail industry."

"No industry personifies the need to bridge physical and digital experiences more than the $4 trillion brick-and-mortar retail industry," said Trevor Sumner, formerly CEO of Perch and Raydiant's new Head of AI and Innovation. "Raydiant will be the first company to offer advanced AI and analytics for unique in-store experiences. They'll be able to tailor messaging based on demographics and what products shoppers physically interact with. Raydiant will unite the best of physical and digital shopping by providing AI insights into the science of in-store conversion. This acquisition is going to fundamentally change the retail landscape."

DETAILS:

  • Raydiant has acquired Perch, retail's leading digital shopper marketing platform for in-store product engagement and sales. 
  • Categories utilizing this technology, including those in beauty, fragrance, grocery, electronics, and apparel, have even seen an average sales lift of 87%.
  • Raydiant has raised a total of $50 million from 8VC, Atomic Ventures, Lerer Hippeau, Mark Wahlberg Investments, Bloomberg Beta, Gaingels, Illuminate Ventures, Transmedia Capital, and Ron Conway.
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