Saturday, May 24, 2008

Altierre is a provider of wireless dynamic pricing solutions for retailers got $8 million in a second round

What Company Is Offering:
Altierre Corp., a leading provider of wireless dynamic pricing solutions for retailers, provides single-platform hardware, software and other IT solutions that enable chain-wide dynamic pricing, improve price accuracy, sharply reduce costs and paper waste, and improve communication with consumers from the onset of the shopping experience to the point-of-purchase. Altierre is a winner of the Red Herring 100 Award, a selection of the 100 private companies based in North America that play a leading role in innovation and technology.

How Much They Got From VCs:

Altierre Corp., a provider of wireless dynamic pricing solutions for retailers, today announced it has raised an additional $8 million in a second closing of its Series C funding round, bringing the total to $30 million. Participating in Altierre's second closing were previous investors the D. E. Shaw group and Labrador Ventures. Altierre has raised a total of $60 million to date.

"We are seeing substantial customer interest in our solution, and this additional funding will further enable us to scale toward multiple implementations in the near future. The second closing of the Series C round continues to demonstrate our investors' enthusiasm for our technology, and our highly differentiated and strategic approach to a large market opportunity," said Altierre Chairman and CEO Sunit Saxena.

Altierre has been co-developing its wireless dynamic pricing solution under signed agreements with several of the United States' top 10 grocery chains. With a fully functioning, end-to-end solution, the company is now executing its breakout strategy to directly address this significant opportunity.


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