Altierre Adds $8 Million

Altierre Corp., a San Jose, Calif.-based provider of wireless pricing solutions for retailers, has raised $8 million in additional Series C funding from existing shareholders D.E. Shaw Group and Labrador Ventures. The round total is now $30 million, including a recent $22 million close from D.E. Shaw, Labrador, The Galleon Group, ATA Ventures and Kinetic Ventures.

 

PRESS RELEASE

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. 

  

“Given the excellent progress Altierre has made with its co-development retail partners, we have confidence that Altierre is on track to begin multiple customer implementations in the near future,” said Andre Turenne, a senior vice president within the D. E. Shaw group's venture capital unit, and member of Altierre's board of directors. “We believe Altierre's wireless platform will be the foundation for a host of innovations