We believe CitiXsys will continue to serve as a growth platform in the retail software market for many years to come and that our investment will accelerate CitiXsys’ global growth both organically and inorganically. - Mark Hilderbrand, Managing Director, Housatonic Partners
NEW YORK (PRWEB) October 30, 2018
CitiXsys, a leading provider of integrated omnichannel retail management solutions has raised $20 million in Series B funding. The investment round is led by Housatonic Partners and brings the total amount raised by CitiXsys to $45 million following on a Series A round of $25 million.
CitiXsys has long been an innovator in the retail sector with software capabilities driving seamless customer experiences for retail and hospitality businesses. The company’s flagship solution, iVend Retail addresses all retail operations, including in-store terminal and mobile Point-of-Sale transactions, eCommerce, inventory and fulfillment, loyalty programs, pricing & promotion management, and analytics.
While retail sales appear to be solid, competition and customer expectations have never been higher. According to Deloitte, winning and retaining customers in the digital era requires a mix of personalization, relevance and engagement across in-store and eCommerce. CitiXsys solutions enable retailers to compete in virtually any sales channel and provide the personalized, consistent experiences customers have come to expect today. The company counts the likes of Samsonite, Virgin Mobile, Crabtree & Evelyn, Circle K, Asics, The Al Muhaidib Group and Havaianas as clients.
A pioneer in integration technology, CitiXsys counts alliances with Sage, SAP, NCR and Microsoft as part of its strategy, offering certified connections via Open API to enterprise resource planning and other third-party solutions giving retailers the right tools to respond to rapidly changing markets with agility.
According to Mark Hilderbrand, Managing Director of Housatonic Partners, “We believe CitiXsys will continue to serve as a growth platform in the retail software market for many years to come and that our investment will accelerate CitiXsys’ global growth both organically and inorganically.”
“Purchasing a retail management solution is one of the most important decisions a retailer can make, since the future of the entire business hangs on its success. CitiXsys aims to minimize this risk for retailers contemplating their digital transformation with a modular, platform approach designed to scale as retail operations grow in size, across geographies and in technological complexity,” said CitiXsys CEO Kamal Karmakar. “This latest capital will assist us to significantly ramp-up our own growth, in addition to supporting an aggressive M&A approach as we look for strategic acquisition targets.”
Founded in 2005, CitiXsys has become a leading mid-market retail software player with 14 offices around the world and solutions used by thousands of retailers in over 85 countries.
CitiXsys is a leader in retail management software that is recognized worldwide for its rich functionality, multi-national capabilities, and unparalleled flexibility. The flagship solution suite, iVend Retail helps retailers to optimize business operations to gain more time to focus on what really matters - cultivating customer engagement and capitalizing on retail trends. CitiXsys integrated omnichannel retail solutions help retailers increase revenue, build customer loyalty, reach new customers and lower their operating costs. For more information, please visit http://www.citixsys.com. Twitter: @CitiXsys LinkedIn: https://www.linkedin.com/company/citixsys-technologies/
About Housatonic Partners
Housatonic Partners is a private equity investment firm founded in 1994, with more than $1.3 billion in capital under management. The firm invests in growing, profitable businesses with highly recurring revenue. Housatonic Partners has backed exceptional management teams in more than 90 small to mid-sized companies over the last 24 years. For more information, please visit http://www.housatonicpartners.com.