Beaconsmind, providing SaaS solution for Location-Based Marketing (LBM) for retail chains, has listed its shares on Euronext Access+ in Paris on Friday. The first trading day was a success.
Euronext Access+ is a special compartment of Euronext Access tailored to the needs of start-ups and fast-growing SMEs. Thanks to its low listing requirements and own listing criteria, Euronext Access+ acts as a springboard to access other Euronext markets, helping them transition smoothly and adapt to market practices.
Zurich based startup beaconsmind went public on Euronext Access+, in Paris last week. Its goal is to reach new clients and raise additional capital to support its growth. The startup has already raised approximately CHF 3 million raised during the listing process on Euronext. The funds will be directed towards strengthening sales teams, acquiring and onboarding new clients and supporting existing clients worldwide.
The admission price was set at €23 per share. The share price closed on Friday at €26,50 valuing the company at €55 million.
Since its founding in 2015, beaconsmind has been enabling retailers with a physical store network and a customer app to increase their sales through location-based marketing: local, personalised messages, offers and other interactions sent via the retailer’s mobile app directly onto the mobile devices of customers in-store.
The company equips retail stores with Bluetooth beacons to locate and identify customers, then integrates its proprietary Software Suite seamlessly with the retailer’s systems. This allows retailers to have a brand-new type of interaction and communication channel with their customers, location-based couponing, and marketing campaigns.
Retailers’ marketing teams use the Software Suite to design high-performing campaigns that transform the in-store shopping experience. This is achieved thanks to the large amount of data captured by the beacons via customers’ phones and analysed in the Suite.
The largest current clients are adidas, Marc O´Polo, GUESS, the Gallery and Manor. The relationship with adidas dates back to 2017, when adidas started testing beaconsmind’s solution in its demo store in Herzogenaurach, near Nuremberg in Bavaria (Germany) – adidas’ Global Headquarters. After additional tests in stores in Paris and London adidas rolled out the beaconsmind solution globally in about 100 flagship stores. According to a press announcement, the company expects robust growth in 2021, thanks to its anchor client’s global roll-out and a positive EBITDA.
(Stefan Kyora)
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