Radar, a startup supported by American Eagle CEO Jay Schottenstein, has achieved unicorn status with its recent funding round.
Founded in 2013 by Spencer Hewett, Radar’s goal is to help retailers manage in-store inventory and reduce theft and lost products.
The latest funding round raised $170 million in Series B, valuing the company at over $1 billion.
Schottenstein confirmed that American Eagle was the first retailer to adopt Radar’s technology in its stores.
Through Radar, “American Eagle has unlocked greater inventory visibility, empowered our associates and sharpened our insights,” said Schottenstein. “With inventory digitized in real-time, we have enabled our creative, operations and technology teams to place their focus on creating seamless, customer-first experiences that define the American Eagle brand.”
Radar also partners with Old Navy and other leading retailers, totaling over 1,400 stores.
By CEO NA Editorial Staff
