MIAMI and NEW YORK – Mi9 Retail, a global supplier of omni-channel retail software, announced today that General Atlantic, a leading global growth equity firm, has made a strategic investment in the company.
General Atlantic will be adding capital to the Mi9 Retail balance sheet to support new initiatives and growth opportunities aimed at better-serving Mi9 Retail customers and their evolving needs. Financial terms of the transaction were not disclosed.
Mi9 Retail is passionate about helping retailers create great experiences for its customers – online, in-store, and on any device. The Company offers an integrated platform that helps retailers across the globe seamlessly manage merchandising, store operations, customer engagement, e-commerce, and business analytics. Mi9 Retail also collaborates with a broad array of third-party service providers that have demonstrated expertise in strategic areas that complement the Company’s solutions and suite of products.
With seven offices around the world and over 300 global customers, the Mi9 Retail platform is used by major retailers and e-commerce providers including Barney’s New York, Christian Dior, Jardiland, Levi Strauss & Co., Little Tikes, London Jewelers, Orchard Supply Hardware, Spencer Gifts, Talbots, and Tea Collection.
“Mi9 Retail is committed to providing innovative technology that drives better business performance and creates great shopping experiences for consumers,” said Neil Moses, Chief Executive Officer of Mi9 Retail. “General Atlantic is joining us as a strategic investor with deep operational expertise in both the software and retail sectors. As we begin our next phase of growth, I believe that our partnership will enable Mi9 Retail to better serve our customers and achieve even greater success.”
“We are excited to work together with Neil Moses, CEO, and Jason Williams, President and CFO, and the entire management team during this exciting and transformative time for Mi9 Retail,” said Preston McKenzie of General Atlantic, who will be joining the company’s Board of Directors. “As retailers continue to deepen their use of technology and data analytics to help manage their operations and growth, Mi9 Retail software has become mission-critical for its customers, delivering a measurable ROI.”
Mi9 Retail has experienced rapid growth as it has successfully built out its modern, comprehensive solution offerings. The Company intends to continue driving its next phase of growth through strategic acquisitions that benefit both current and potential customers.
“The Company’s track-record and explosive growth is a testament to the talented Mi9 Retail leadership team and market-leading omni-channel software,” added David George of General Atlantic, who will also join the Mi9 Retail Board of Directors. “We are excited to support the Mi9 team, their strategic business initiatives, and the Company’s continued expansion into new markets.”
General Atlantic has deep expertise in the Internet & Technology and Retail & Consumer sectors and is currently invested in leading retailers including Grupo Axo, Tory Burch, and Zimmermann, and high growth software companies such as Box, Seismic, SessionM, and Turbonomic.
About Mi9 Retail
Mi9 Retail is passionate about helping retailers create great experiences for our customers—online, in-store, and on any device. We know that great retail experiences happen when optimized inventory management intersects perfectly with well-executed customer engagement strategies to deliver higher customer loyalty, better margins, and a more engaged workforce. Our solutions for merchandise management, digital commerce, and store operations are used by leading retailers across the globe. Mi9 Retail is headquartered in Miami, FL, with operations in North America, Europe and Asia. www.mi9retail.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com.
Source: Mi9 Retail