January 11, 2015
Today, we’re excited to launch Percolata, a service that utilizes physical big data to dramatically improve how brick and mortar businesses work. Our goal is to enhance retailers’ store operations by giving them the same level of access to real-world data that is available in the online world.
Forty-two million (1 in 4) Americans work in retail. Yet, this largest sector of the US workforce is misallocated, with overstaffing occurring 53% and understaffing occurring 33% of the time. Consequently, one-third of the customers entering a store leave without buying because they were unable to find a salesperson to help them.
We solve this problem by precisely matching labor with customer traffic entering retail stores. This allows retailers to increase revenue by 10% while keeping labor costs in check. Percolata’s workforce management solution yields payback in just weeks by:
Our value is reflected in the rapid ramp-up of customer engagements across the United States, Europe and Asia. For example, we just completed our nationwide deployment with Uniqlo USA:
“Percolata is our preferred platform for traditional and emerging tools for monitoring and understanding store traffic, conversion rates, and other shopper metrics as well.
–Alex Goldelman, VP of Finance and Business Development for Fast Retailing, Uniqlo USA”
To help us open up Percolata to the world, we’ve raised $5M from Andreessen Horowitz, Google Ventures, Menlo Ventures, Foundation Capital, WI Harper, Cherubic Ventures and several other notable firms. These firms are joined by angels including Pierre Lamond, Professor Bernd Girod, Jeff Hammerbacher, Eric Feng and others.
If you’re interested in learning more, sign up for an invite. We’d love to hear your thoughts and feedback.
We’ve only just started our journey and are looking for similarly minded people: join us. Our offices are in Palo Alto, CA and Shenzhen, China.
- Greg Tanaka
Greg is Founder/CEO at Percolata and Chair of the Planning and Transportation Commission for the City of Palo Alto. Follow him at @GregTanaka.