Shelfbucks raises part of $10M financing round

Oct 16, 2014
Austin Business Journal

Shelfbucks Inc., a product information technology maker, reported raising $2.1 million of a planned $10 million financing


The Austin-based company collected the capital from 46 investors, according to a Wednesday filing with the U.S. Securities and Exchange Commission


Shelfbucks, headed by CEO Erik McMillan, was founded in February 2013 as Bricktrends Inc. and relaunched later that year as Shelfbucks


Its technology is designed to enable shoppers browsing store aisles to interact with Shelfbucks beacons using a smartphone to access content, promotional offers, ratings and reviews, and data on nearby products. The system avoids unwanted messages on a smartphone by requiring users to opt in to the system


The company employed 17 workers earlier this year and planned to have 28 on the payroll by the end of the year


In January, Shelfbucks enlisted Catherine Lindner as chief merchant officer. She was previously vice president of retail marketing for Walgreens Inc. (NYSE: WAG)


In July, it attracted GameStop Corp. as a customer, the first major retailer to use the startup’s technology. GameStop agreed to deploy Shelfbucks beacon-based technology that sends store and product information to consumers’ smartphone


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