Shopventory with $1 Mn funding Enables retailers utilizing PayPal Here and Square

Shopventory was Co-founded in May 2013 by Dave Carlson (CEO), Rares Saftoiu (CMO) and Batch Le (CTO). On October 22nd 2013, the company acquired a funding of $1 Mn from Techstars. Shopventory provides sales analytics & inventory management for small and medium sized businesses.

Shopventory partners with a user’s PayPal Here or Square account and provides inventory management functionality so businesses know inventory usage & stock levels. It also gives them the ability to analyze sales patterns in order to help increase sales.

This video gives you a detailed explanation of Shopventory’s platform:

Shopventory also added some new features: shopventory3

  • Shopventory retailers using the latest in MPOS technology, can now manage their inventory like a Fortune 500 company according to the company.
  • The new features allow retailers to analyze stock usage alerts, sales trends and reorder recommendations.
  • It also provides access to a variety of robust business intelligence reports such as: Graphs and reports, dashboard alerts, on-the-fly view of cash tied up in overall inventory or by category etc.
  • 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,” said Bach Le. “Shopventory is laser focused on helping medium to small businesses better manage their inventory to help increase sales, reduce costs and save time.”

As for Pricing:

shopventory1

“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,” said CEO Dave Carlson. “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,” he added.

Chiraag

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading & Blogging with focus on New Innovation, Technology & Startups in the Payments Space.
Twitter:@chiraagpatel21