NewStore, the omnichannel platform behind brands like UNTUCKit, raises $20M in funding to accelerate growth

There are many retailers downsizing and shuttering their physical store locations. Retailers have long faced hurdles in offering a seamless interaction between online and brick-and-mortar. Connecting legacy systems and outdated technologies is time-consuming and cumbersome, creating friction behind the curtains and on the store floor. Enter NewStore, a tech startup and an Omnichannel-as-a-Service provider that helps retailers operate a seamless end to end experience across all touchpoints, unlocking in-store revenue drivers including endless aisle, mobile checkout, store inventory and clienteling.

To build on its 2019 success and further accelerate its growth momentum, NewStore is kicking off 2020 with $20 million in strategic investments. Brands, including UNTUCKit, Decathlon and Outdoor Voices, use NewStore’s Omnichannel platform is used to manage all aspects of the customer selling process, in-store operations, and real-time inventory management. The platform also helps several hundred stores globally run retail operations on iPhone. Backers include Salesforce Ventures, with new funding from existing investors including Activant Capital, General Catalyst and NewStore Founder and CEO Stephan Schambach. To date, NewStore has raised over $110.4M in funding over 6 rounds.

Founded in 2015 by Stephan Schambach, who pioneered ecommerce at Demandware (now Salesforce Commerce Cloud), the Boston, MA-based NewStore provides Omnichannel-as-a-Service with the only integrated cloud OMS and mobile POS. Intuitive store associate apps allow retailers to offer seamless shopping experiences through endless aisle, mobile checkout, store fulfillment, real-time inventory and clienteling.

NewStore operates the first cloud platform that enables retailers to run their stores on iPhone. For example, UNTUCKit, the casual apparel company, best known for its shirts designed specifically to be worn untucked, is defining the industry’s new playbook for modern retailing. UNTUCKit’s stores are built on omnichannel platform built by NewStore. This helps the company to focus on its core business and stay above the competition.

“We’ve witnessed an interesting life cycle in retail over the last few decades. Brands have pivoted between channels, trying to meet shoppers where they are. But today’s shoppers are everywhere, and don’t see in channels, which is why omnichannel is a strategic imperative,” said Stephan Schambach, Founder and CEO, NewStore. “It’s not easy to operate stores in today’s digitally-driven world. Despite stores being a source of great frustration, they also represent a major opportunity. NewStore is the most complete and compelling solution for retailers.”

“We’re excited for NewStore’s integration with our AI-powered commerce platform and new Salesforce Order Management system,” Mike Micucci, CEO, Salesforce Commerce Cloud. “This gives customers even more choice in how they deliver omnichannel experiences to keep pace with the rapidly changing needs of their shoppers.”