News / $4.5 million from Romulus Capital


$4.5 million from Romulus Capital

  • By Alex Goodwin

Aila Technologies Receives $4.5 million in Financing from Romulus Capital to Accelerate In-Store Innovation with Retail Devices

Padloc Inc. Announces Corporate Name Change to Aila Technologies to Reflect Broader Brick-and-Mortar Retail Innovation & Commitment

Natick, MA ― Dec. 15, 2015 ― Padloc, Inc. – provider of mobile-based, in-store devices for top retailers – announced today that it has received $4.5 million in financing from Boston-based Romulus Capital, a private investment firm that focuses on innovative technology companies. The company also announced it will be changing its corporate name to Aila Technologies.

“The financing from Romulus Capital represents an important milestone in the growth of Aila and a major step in accelerating the adoption of our innovative retail technology solutions that can instantly transform tablets and other mobile devices into interactive kiosks, associate handhelds, point-of-sale terminals, and digital advertising portals. The shift to mobile devices is happening throughout the store – from the aisle to the check-out to the dressing room – and Aila is positioned to become the core infrastructure of the connected retailer,” said Jason Gulbinas, chief executive officer and co-founder, Aila Technologies.

Aila works with prominent technology providers, including IBM, on custom retail installations, and its elegant, sophisticated devices are in-use or in-test with four of the top 20 U.S. retailers. These devices transform Apple's familiar mobile products into powerful retail devices by adding proprietary barcode imaging technology and store-ready design. Aila's full complement of associate and customer devices creates the premier hardware platform for building exceptional in-store experiences. The result is a unified omnichannel experience that connects customers to brands and reinvigorates brick-and-mortar shopping.

“Our significant investment in Aila demonstrates our high level of confidence in the company’s senior management team, its impressive technology portfolio, and the overall market opportunity that exists in retail stores,” said Krishna Gupta, founder, Romulus Capital. “The best brick-and-mortar retailers won't disappear, but they are adapting and looking to leverage a suite of mobile technologies. Aila is the glue that holds that hardware and software suite together. We love companies solving problems in large verticals and we're impressed with Aila's progress and positioning today.”

Padloc becomes Aila

The new name, Aila Technologies, is effective immediately and will be implemented across the company's marketing, collateral, products and services, including upcoming announcements which will be made at the National Retail Federation (NRF) show in January 2016.

“Aila is a play on the word ‘aisle,’ which represents our expertise in helping brands connect with in-store shoppers, and the importance the company places on innovation in the brick and mortar retail environment. The new name emphasizes our wide-ranging business objective of changing the way omnichannel experiences are delivered,” said Gulbinas.

The peak holiday season is predicted by NRF to hit $630 billion in retail sales.[1] According to US Census Bureau data[2], more than 92 percent of purchases happen in-store. Retailers need to support the brick and mortar experience to drive sales. 

“Brick-and-mortar retailers have turned to Aila to help them become more strategic in integrating technology into the overall shopping experience,” said Matthew Kowalczyk, chief technology officer and co-founder, Aila Technologies. “Improving and understanding customers’ in-store shopping experience is an important component of leading retailers’ strategy. Savvy customers expect rich digital experiences that help inform their purchasing decisions while retailers can use the resulting data to help increase sales.”

Aila remains passionate about helping transform retail, specifically aligning brands with customers' overall positive experience. Retailers served by Aila realize that using innovative retail technology solutions will help them reach their goals of driving revenue and acquiring new customers.

For more information, please visit www.ailatech.com 

About Aila

Aila’s devices enable retailers to create exceptional shopping experiences. These devices transform Apple's familiar mobile products into powerful retail devices by adding proprietary barcode imaging technology and store-ready design. The products not only lead the market, they’re changing the way brands and customers interact in brick-and-mortar stores. Aila is sparking the integration of tablets and mobile devices into the retail environment and helping brands meet customers where they are - in the aisles.

Based near Boston, Aila powers in-store experiences across North America. The company is funded by Romulus Capital and Bolt. For more information about Aila Technologies, please visit www.ailatech.com

Romulus Capital

Romulus Capital invests in seed-stage technology companies that are looking to become industry leaders. The company invests between $50-500K in brilliant   –often first-time – entrepreneurs affiliated with top universities and incubators; as a company grows. Romulus Capital is focused on company-building, rather than betting, and remain strong partners throughout the trajectory of growth. The firm is young, entrepreneurial, and established, with over $100M from a powerful investor base around the world.

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[1] https://nrf.com/media/press-releases/national-retail-federation-forecasts-holiday-sales-increase-37

[2] In-store sales calculated from U.S. Census Bureau News Quarterly Retail E-Commerce Sales, 3rd Quarter 2015 https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf

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