UntieNots, a RetailTech start-up, announced that it successfully completed a fundraising campaign for 1.7 million from Altavia Coach Strategic Ventures, the innovation dedicated investment fund of the group Altavia (the leading international and independent commercial communication group dedicated to retail). This is UntieNots first round of campaign funding because since its creation, all development has been self-financed through major contracts from well-known players such as Carrefour, La Fnac and Auchan. In addition to doubling employment, gaining an expert partner in international retail will enable UntieNots to reinforce its position in the French market and pursue a deployment strategy in Europe.
RE-INVENTING SALES PROMOTION THROUGH BIG DATA AND AI
Founded in 2016 by Zyed Jamoussi and Cédric Chéreau, Retail Analytics experts, UntieNots is revolutionizing retail loyalty programs via the Loyalty Challenge. The solution for customer loyalty that combines gamification and ultra-personalized promotions.
For this purpose, UntieNots’ Artificial Intelligence algorithms analyze all data surrounding loyalty cards and create tailor-made campaigns based on the markers identified affiliations between a customer and a product. Therefore, according to a clients habits and tastes, they can receive “challenges” related to a brand or product range and then choose those that interest them.
In May 2019, the start-up joined the first Retail Accelerator co-organized by METRO (Germany) and TARGET (USA). 8 international startups were chosen by these 2 global distribution giants among more than 550 applications. UntieNots is the only French representative.
SIGNIFICANT REFERENCES AND TANGIBLE RESULTS
Less than two years after its launch, the Loyalty Challenge is already being deployed in several leading retail chains in France and Belgium. It is present in Auchan, Carrefour and La Fnac,
analyzing the loyalty cards of 25 million loyalty accounts, representing nearly 1 million transactions per day.
Above all, the brands using the solution are recording excellent results with a viable impact on their turnover. Through gamification and personalization, the rate of customer participation is 5 times higher than the average targeted operations. And every euro of generosity distributed generates at least €7 of incremental revenue (ROI), average monthly baskets are up 10 to 12% and participating customers make an additional visit each month on average.
A FUNDRAISING CAMPAIGN TO ACCELERATE A EUROPEAN MARKET CONQUEST
Having until then self-financed development and achieved profitability, the start-up aims to accelerate and benefit from the level of maturity required to gain increasingly ambitious contracts and deploy its strategy to conquer the European market. In raising €1.7 million from Altavia, UntieNots relies on the resources and networks of a large group with an international dimension.
“We are very pleased by this merger with the Altavia group, which has seduced us with its strong entrepreneurial spirit and its know-how in retail services. UntieNots is a fast-growing start-up company owned entirely by its founders and employees. Altavia’s participation will allow us to accelerate further to conquer new markets in France and Europe,” says Zyed Jamoussi, co-founder of UntieNots.
“Integrated for more than 2 years in the Altavia Coach start-up community, UntieNots won our Retail Acceleration Programme in November 2018. This brought to our attention the tremendous value potential that UntieNots and Altavia can offer together to major international retail players and encouraged us to participate in the UntieNots Capital with our Altavia Coach Strategic Ventures fund. We welcome the great feeling we have with UntieNots and are convinced that loyalty is a major strategic challenge for brands and companies, which must reinvent and nurture their customer relationships,” explains Sarah Gaïsset, Head of Retail Innovation.
Altavia is the first international independent group specialized in sales communications for retailers. Founded in 1983 by Chief Executive Officer Raphaël Palti, the group offers tailor-made sales activation solutions. Nowadays, sales communications effectiveness lies in the unique relational alchemy which enables retailers to forge fruitful links with their customers. This relational alchemy requires day-to-day nurturing, enrichment and transformation. Altavia provides more than 300 international leading retail companies and brands with innovative and efficient means to activate their business. Altavia group operates in more than 30 countries and employs more than 2,500 people worldwide.
ABOUT ALTAVIA COACH
Innovation is at the heart of Altavia’s DNA. Within the group, Altavia Coach is the entity dedicated to innovation and strategic business identification of lines to design the retail and customer experience of tomorrow. Altavia Coach supports and collaborates with innovative start-ups through an acceleration program, a community of more than 40 start-up partners operating in commercial communication and retail fields and a corporate fund operating equity investments in fast-growing companies and whose business is in line with the strategic development axes of the group.
Created in 2016 by two Retail Analytics experts, Zyed Jamoussi (15 years of experience with Emnos, Yves Rocher, PWC) and Cédric Chéreau (14 years of experience with Emnos, Ellipsa, LVMH), UntieNots is revolutionizing promotion and loyalty in retail. The start-up implements Artificial Intelligence algorithms that leverage data from consumer loyalty cards, geolocation and web browsing to create targeted promotional campaigns based on markers identified between a customer and a product. Accompanied by the WILCO accelerator, the start-up is one of the 7% most promising start-ups in the world according to the Early Metrics rating agency.
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