Dublin tech startup Pointy lands €10m round for US expansion
The Dublin retail technology startup Pointy has raised $12m (€10.2m) in a Series B funding round.
The main investor is Noel Ruane's Polaris Partners, with Microsoft co-founder Paul Allen also investing through his Vulcan Capital firm.
It is the second significant round of funding for the firm in the last 12 months and bringing its total to $19m (€16.2m).
Pointy makes technology that connects the inventory of local shops to online e-commerce channels. It makes a 'Pointy Box' that connects to a shop's barcode scanner and automatically lists the shop's products online, optimising them for search engines. The idea is that when people search for products, they find results from local stores instead of simply on Amazon or other giant online specialists.
The company's co-founder and CEO, Mark Cummins, said that the €10m funding round will help Pointy to focus on growth in the US and other countries.
"We're experiencing rapid uptake by US retailers," he said. "It seemed crazy to us that people had to wait two days for Amazon to deliver a product that could be 100 yards away in a local store."
The company's other cofounder is Charles Bibby. Early investors include Bebo founder Michael Birch and WordPress's Matt Mullenweg.