Leading provider of omni-channel retail software
Expanded customer base from 29 to more than 300 during Summit’s 18-month investment period
Completed three acquisitions to expand product capabilities and geographic reach
Tripled employee headcount and added three international offices
Acquired by General Atlantic in 2017
Mi9 Retail is a premier provider of an integrated suite of retail merchandising, e-commerce, point-of-sale, business intelligence and customer-centric store operations software. Acquired in 2014 by an experienced team of senior operators, Mi9 grew quickly executing on management’s vision of becoming one of the largest, privately owned, software companies focused exclusively on retail. With the opportunity to complete a transformative acquisition in 2015, the Mi9 team sought an experienced growth equity partner to support the company’s continued growth and chose to partner with Summit.
How Summit helped:
- Completed a majority recapitalization and growth equity investment in November 2015. A portion of the proceeds from Summit’s investment were used by MI9 to fund the acquisition of Raymark. This added important complementary capabilities to Mi9’s product portfolio and expanded the company’s geographic reach.
- Engaged Summit's Peak Performance Group to help build repeatable processes around new customer implementations and acquisition integration, including developing a detailed process map and establishing performance benchmarks
- Completed two follow-on investments in 2016 to support the acquisitions of Upshot Commerce and Applications Systems Corporation
- Helped Mi9 scale the organization through several key hires including: Senior VP, Sales; Senior VP, Marketing; VP, Operations; and VP, Product Management
- Identified and helped to recruit retail software industry veteran Howards Stotland and Sean O’Neil, former CEO of Summit portfolio company Newmarket, to the board of directors
Today, Mi9’s integrated platform helps retailers across the world seamlessly manage merchandising, store operations, customer engagement, e-commerce, and business analytics. Customers include major retailers and e-commerce providers such as Barney’s New York, Christian Dior, Jardiland, Levi Strauss & Co., Little Tikes, London Jewelers, Orchard Supply Hardware, Spencer Gifts, Talbots and Tea Collection.