StoreForce, a provider of innovative tools for managing specialty retail stores, has announced a significant capital investment from Accel-KKR, a global tech-focused private equity firm. With this investment, StoreForce plans to further expand its presence in global markets including North America, Europe, Australia, South Africa and Asia through organic growth and strategic M&A opportunities.
“StoreForce presents an excellent investment opportunity with its potential for product-led growth, complemented by a sound M&A strategy – and we look forward to leveraging our resources and network to help the company grow,” says Phil Cunningham, Managing Director at Accel-KKR.
StoreForce offers a comprehensive suite of data-driven tools that help specialty retailers simplify store operations, engage employees, and drive more sales. Founded by retailers for retailers, StoreForce includes Workforce Management, Performance Management, Retail Execution, Employee Engagement, or combined together under a Retail All-in-One Operations platform. With customers such as Asics, Crate & Barrel, Lids, Lacoste, Tory Burch, The Body Shop and Timberland, StoreForce serves top specialty retailers in 60 countries with support in over twenty languages. StoreForce was recently named the “Best Quick Impact Technology Solution” award by Vendors in Partnership, an industry-led program for solutions that power the retail ecosystem.
“By delivering up to 15% in sales lift within weeks of engagement, StoreForce has been able to partner with the best specialty retailers in the world and achieve rapid global organic growth. Accel-KKR brings both the capability to make strategic investments and a proven track record of ‘know-how’ to accelerate the next leg of our journey. As we continue to prioritize our customers’ success, StoreForce is well-positioned to deliver continued innovations for our clients around the world,” says StoreForce CEO and Co-Founder Dave Loat.
“In the current dynamic market in retail such as the continual convergence of digital and brick-and mortar channels, a changing workforce and the constant need to optimize store performance, one thing remains unchanged: delivering superior customer experience. StoreForce’s offerings deliver proven ROI by helping specialty retailers gain a competitive edge and drive rapid sales growth,” adds Nishant Patel, Principal at Accel-KKR. “We are excited to help the company expand and reach more retailers with their solutions.”
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