Profitect has received undisclosed funding from Motorola Solutions Venture Capital, the investment arm of Motorola Solutions. Headquartered in Waltham, Mass., Profitect is a provider of profit amplification solutions.
WALTHAM, MA and SCHAUMBURG, IL–(Marketwired – Apr 28, 2014) – Profitect, a profit amplification solutions provider, announced today an investment by Motorola Solutions, Inc. (NYSE: MSI) through its strategic investment arm, Motorola Solutions Venture Capital. This investment will be used to further Profitect’s global growth in the world of data analytics.
“Profitect has a compelling retail-specific pattern-seeking analytics platform that provides highly actionable information from the vast amount of data being collected from stores today,” said Reese Schroeder, managing director, Motorola Solutions Venture Capital. “The Profitect solution provides data to retailers that allow associates to take immediate, guided action to resolve problems that impact shoppers and profits.”
In addition to the financial investment, the two companies expect to work together to allow retailers and retail-focused value-added resellers easier access to the timely, detailed and guided actions identified by Profitect’s pattern-seeking analytic solution. With Motorola Solutions’ industry-leading mobile solutions, Profitect will be able to deliver actionable insights and tasks identified through its intelligent automated analytics — directly to the in-store managers and associates for action. This integration will power up the profit amplifying impact achieved by retailers, allowing for more efficient and effective top- and bottom-line improvements.
“The joint resources brought together by Motorola Solutions and Profitect will benefit our customers by making it easier for them to resolve and execute guided actions as well as keep up with the pace of today’s retail environment,” said Guy Yehiav, Profitect CEO. “With the combination of pattern analytics, like those provided by Profitect, and industry-leading, innovative communications solutions from Motorola, retailers will be able to automatically identify hidden insights and patterns, and use current technology to guide the business user to take action, in plain English rather with than with millions of reports.”
The Profitect software solution uses pattern analytics to identify revenue reducing activities, and integrated task management provides timely, detailed, and guided actions to resolve the issue. Improvements to the top and bottom line are continuously measured, ensuring sustainability across the business.
About Motorola Solutions
Motorola Solutions is a leading provider of mission-critical communication solutions and services for enterprise and government customers. Through leading-edge innovation and communications technology, it is a global leader that enables its customers to be their best in the moments that matter. Motorola Solutions trades on the New York Stock Exchange under the ticker “MSI.” To learn more, visit www.motorolasolutions.com. For ongoing news, please visit our media center or subscribe to our news feed.
About Motorola Solutions Venture Capital
Motorola Solutions Venture Capital is the strategic equity investment arm of Motorola Solutions. Its diversified portfolio is focused on “new-idea” companies and opportunities that complement Motorola Solutions’ business strategy. Motorola Solutions Venture Capital invests at all stages in developing companies to accelerate access to new technologies, new markets and new talent. For more information, please visit www.motorolasolutions.com/ventures.