Shopventory Raises $1.0M and Releases New Cloud-Based Platform

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Shopventory takes inventory management and business intelligence reporting to the next level.

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Shopventory retailers utilizing the latest in mobile point-of-sale (MPOS) technology, can now manage their inventory like a Fortune 500 company.

Shopventory - a new and innovative cloud-based inventory management and business intelligence platform for medium to small size businesses - today announced the completion of a $1.0 million raise as well as the launch of their new feature rich platform.

"In a few short months, the Shopventory team has graduated from the TechStars Boulder accelerator, launched an entirely new cloud-based platform and raised $1.0 million to service the burgeoning needs of retailers to better manage their inventory and receive business intelligence insights on how their business is performing," noted Dave Carlson, CEO & Co-Founder of Shopventory. "Our investors are also excited about fulfilling this need for retailers which helped us quickly raise a $1.0 million seed round after the completion of the Techstars program."

Shopventory retailers utilizing the latest in mobile point-of-sale (MPOS) technology, can now manage their inventory like a Fortune 500 company. The new features allow retailers to analyze sales trends, stock usage alerts, reorder recommendations and provide access to a myriade of robust business intelligence reports such as:

  •      Graphs and reports to manage overall gross margin by product or category
  •      Configurable low inventory email and dashboard alerts
  •      Filtering inventory by item, category, margin, sales or cost
  •      Configurable threshold alerts at the category level
  •      On-the-fly view of cash tied up in overall inventory or by category
  •      Quick and efficient bulk editing of inventory counts and reconciliations
  •      Easy cost of goods sold data entry, management and reporting
  •      Forecasting tool creates "what if" scenarios for potential sales or inventory clearance events

"We listened carefully to our customers during Shopventory's beta phase and are pleased to launch our new platform which meets and hopefully exceeds our client's expectations," stated Bach Le, CTO and Co-Founder. "Shopventory is laser focused on helping medium to small businesses better manage their inventory to help increase sales, reduce costs and save time."

About Shopventory

Shopventory helps medium and small businesses using mobile point-of-sale (MPOS) systems save time and increase sales through automated inventory management and powerful business intelligence. Shopventory is like hiring a retail consultant who is working for you 24/7, enabling businesses to compete at the same level as large retailers, at a fraction of the cost. Shopventory is headquartered in Denver, Colorado and is a Techstars Boulder 2013 graduate.

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