Arkansas, USA-based provider of automated retail space-planning and performance analytics software, Nuqleous, raised USD 26 million in recent funding. The round took place on July 25, 2023. Blue Ladder Capital, an investment and operating firm specializing in partnering with verticalized market-leading B2B software companies, led the financing for the company.
In addition, Garrett Levey and Bill Kloza joined the company as co-presidents. As part of the deal, Paul Springmann, Co-Founder and President, will fit into an advisory role.
What the company’s official has to add
Paul Sims, Co-Founder and CEO of Nuqleous said, “We raised capital to accelerate product innovation and double-down on our customer-led growth strategy. We are dedicated to enhancing our customers’ lives through automation and empowering data-driven decision-making, so we’ve partnered with Blue Ladder Capital for their expertise in scaling mission-critical software businesses.”
What the newly appointed co-president has to add
Garrett Levey further added, “We partnered with Nuqleous due to their strong product/market fit and exceptional net promoter score – customers love the products. We take a long-term view on partnering with companies and are excited to continue to build an enduring business. Nuqleous’ product portfolio is highly differentiated and delivers a significant return on investment to customers; we look forward to expanding our commitments to existing customers while expanding both nationally and internationally.”
About the company
Paul Sims is the Chief Executive Officer (CEO) of the company launched in 2013. Nuqleous’ software products enable customers to improve margins, reduce inefficiencies and turnover. It further increased sales for more than 700 categories across 3,700 brands representing USD 40.9 billion in annualized sales.
Since its inception, Nuqleous enabled top CPG brands, distributors, and retailers to enhance merchandising and data analytics. Category advisors depend on Nuqleous’ Shelf IQ® product to manage store-specific merchandising strategies for more than 250,000 SKUs that not only drive billions in revenue but also save teams thousands of hours per year.
In addition, Nuqleous serves more than 75 blue-chip companies, such as Kraft-Heinz, PepsiCo, Kellogg’s, Anheuser-Busch, and Unilever) servicing the largest retailers, c-stores, and grocers, such as Walmart, Target, 7-Eleven, CVS, and Kroger. The company also achieved significant growth, earning consecutive placements on the Inc. 5000 Annual List of America’s Fastest-Growing Companies in 2021 as well as 2022. In 2023, the company was honoured with the prestigious Inc. Best Workplaces recognition. The recognition further highlighted the company’s commitment to employee well-being and fostering a supportive work environment.
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