General Atlantic invests in Mi9 Retail


US-based omnichannel retail software provider Mi9 Retail has received an investment from the General Atlantic, a global growth equity firm.

Financial details of the deal have not been revealed by either company.

The new investment will be used by Mi9 to support growth opportunities and focus on new initiatives to better serve its customers.

Mi9 Retail chief executive officer Neil Moses said: "Mi9 Retail is committed to providing innovative technology that drives better business performance and creates great shopping experiences for consumers.

"The Mi9 Retail software has become mission-critical for its customers, delivering a measurable ROI."

"General Atlantic is joining us as a strategic investor with deep operational expertise in both the software and retail sectors. As we begin our next phase of growth, I believe that our partnership will enable Mi9 Retail to better serve our customers and achieve even greater success."

General Atlantic has invested in retailers such as Grupo Axo, Tory Burch and Zimmermann, as well as other software development companies, including Box, Seismic, SessionM and Turbonomic.

General Atlantic special adviser Preston McKenzie said: "As retailers continue to deepen their use of technology and data analytics to help manage their operations and growth, the Mi9 Retail software has become mission-critical for its customers, delivering a measurable ROI."

Mi9 provides an integrated platform to enable retailers to seamlessly manage merchandising, store operations, customer engagement, e-commerce, and business analytics.

The firm also collaborates with a wide array of third-party service providers that have expertise in strategic areas, which complement its own solutions and suite of products.

Mi9 has seven offices and more than 300 customers worldwide.

Its platform is used by retailers and e-commerce providers, including Barney's New York, Christian Dior, Levi Strauss & Co., Talbots, and Tea Collection.