CitiXsys Raises $60 Million for Retail, Hospitality Software Platform

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CitiXsys, which provides integrated omnichannel solutions for retail and hospitality industries, has completed its latest funding round.

The company announced it raised $60 million in funding, led by Goldman Sachs Merchant Banking Division.

CitiXsys’ flagship product, iVend Retail helps medium to large sized customer driven businesses deliver seamless customer experiences with end-to-end retail management systems. The company has several clients for its services including Kazyon, Samsonite, Vodafone, Virgin Mobile, The Body Shop, Asics, The Vitamin Shoppe, and Goodwill Industries.

“CitiXsys today readily enables businesses to meet shopper expectations on the front-end, while providing users on the backend with the streamlined processes and access to data that drives business growth, said Kamal Karmakar, CitiXsys CEO, in a statement. “The next milestone for us is to offer complete infrastructure and application management to all retailers worldwide, so they can join the next phase of digital transformation in retail. I am delighted to work with Goldman Sachs MBD in this next chapter of growth and expansion of the business, including as we look for strategic acquisition targets that complement our existing offer.”

Adds Terence Doherty, Managing Director at Goldman Sachs, “We are excited to invest in CitiXsys and to be a part of the Company’s continued growth. Their innovation adds value for retailers around the world with a best-in-class solution.”

 

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