Index hopes to use a new round of funding to make deeper inroads in the apparel and other industries as retailers get savvier about how they’re using data collected in-store.
The San Francisco-based company, with a team of about 40 workers, makes software that helps retailers take secure payments in their stores and also leverage that data for marketing. That means those payment terminals customers swipe their credit cards through to make a purchase are not only secure but also help companies build a customer database. At a very basic level, explained cofounder and chief technology officer Jonathan Wall, companies can draw conclusions about their shopper base with information such as who is buying T-shirts and how many of those who buy shirts also tend to buy socks. When those same payment terminals ask if someone would like a receipt e-mailed to them, that then becomes an avenue for e-mail marketing efforts.