Mobile commerce platform provider Tulip said it received $40 million in Series B funding. The company said it will “leverage this investment to focus primarily on international growth and innovation.”
Tulip said the platform is currently deployed across 25 countries, but it “is seeing increasing demand for its offering in Europe, South America and Asia and plans to use the funds to expand the organization globally.” The round was led by Kleiner Perkins and was joined by existing investors that included Jump Capital. Tulip said Mood Rowghani, general partner at Kleiner Perkins, will join its board of directors.
The technology is designed to help store associates access consumer preferences in real time as well as offer a “limitless” aisle of products. It also serves as a communication platform with customers and a point-of-sales solution, which is all done via a mobile device. “Tulip’s applications deliver a modern experience for consumers across all segments of retail, including fashion, home decor, toys, electronics, banking and health care,” the company said, adding that it is currently deployed across the U.S. serving retailers and brands that include Coach, Kate Spade, Saks Fifth Avenue, Frye Boots, Bonobos and Toys ‘R’ Us.
Ali Asaria, chief executive officer of Tulip, said the company selected Kleiner Perkins “because their vision for the future is as ambitious as our own” and that as investors in technology companies such as Amazon, Google, Slack and Stripe, “Kleiner Perkins has a track record of working with founders to think bigger and longer term when it comes to strategy and market opportunities.”
Rowghani described Tulip as a company that is “helping modernize bricks-and-mortar stores by enabling a more personalized and intimate experience for consumers while helping them establish an ongoing relationship with their favorite brands.”
Dominique Essig, chief experience officer at Bonobos, said the company’s store base has been expanding rapidly “and we needed a way to provide our in-store associates, or ‘Guides,’ with the tools necessary to serve the customer.” Using Tulip’s mobile platform “enabled us to manage the entire customer journey, from the onset of an appointment through shopping the catalogue, checkout and post-appointment.”
Aside from Amazon, Google, Slack and Stripe, Kleiner Perkins has made investments in Nest, Waze, Twitter, JD.com and Square.
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