Retail Analytics Company Trax Raises $100 Million

Israel-linked retail analytics Trax Image Recognition, incorporated as Trax Technology Solutions Pte. Ltd., has completed a $100 million series D funding round at a pre-funding valuation of $1.1 billion, the company confirmed in a statement to Calcalist Monday. In May, Bloomberg reported the company was raising a $100 million round and was set to complete it by the end of June.

Founded in 2010 by Israeli entrepreneurs Yoel Bar-El and Dror Feldheim, Trax offers retailers image recognition and computer vision analytics tools to keep track of their stock and inventory. The company is headquartered in Singapore with offices in Israel, Asia-Pacific, Europe, and the Americas. The company—which has raised over $350 million to date—intends to go public this year, according to a Calcalist 2018 interview of Bar-El, who is also Trax’s CEO.

Trax intends to use the funding to hire more people, especially for its research and development center in Tel Aviv, the company said in a statement.

Beijing-based private equity firm HOPU Jinghua (Beijing) Investment Management Co. Ltd., led the round.