Omnichannel tech company PredictSpring secures 16 million dollars in funding

PredictSpring has announced that it has raised 16 million dollars in Series B funding, bringing its total funding to 32 million dollars.

The omnichannel commerce and point of sale (POS) technology company said it will be using the funding to accelerate the growth of its omnichannel business and expand its research and development and go-to-market teams.

Additionally, PredictSpring added in a release that the further funding will allow it to continue developing innovations in omnichannel commerce.

The company already works with the likes of Suitsupply, Sandro, Maje and various Estée Lauder brands, such as Mac Cosmetics and Jo Malone, on mobile commerce platforms.

“In the last three years, we have seen an accelerated transition from decades-old legacy retail POS systems to modern POS platforms across the board in the retail industry,” said the company’s founder and CEO Nitin Mangtani.

Mangtani continued: “This funding round enables us to expand on our already successful Modern POS business, and provide brands and retailers with innovative omnichannel solutions that further improve the consumer experience and drive sales.”

Currently, PredictSpring’s Modern POS offer is available in 25 countries, including the US, UK, Canada and Australia. It has additionally achieved fiscal compliance for its POS software in a number of European countries, such as France, Germany and Italy.