Press release: Announcing our A series funding

Tuomas Wuoti

HELSINKI, November 12, 2013 /Slush Conference/ -- Walkbase, the marketing optimisation platform for brick & mortar retailers, today announced it has reached an agreement to raise €3 million in Series A funding from SBT Venture Capital andOlli-Pekka Kallasvuo, former CEO of Nokia. Walkbase will invest the funds in strengthening its sales, marketing and customer-insight teams, as well as accelerating its growth strategy to become the leading marketing optimisation platform for omni-channel retail in EMEA and Russia.

Walkbase has developed a platform to measure, understand and optimise the omni-channel customer journey, where smartphone-enabled shoppers jump between online and offline channels while they search, research, and purchase products.

"Even though online buying is steadily growing, 92% of retail sales still take place in physical stores," notes Tuomas Wuoti, CEO & Co-Founder of Walkbase. He continues: "The world of retail is about to enter into the next major disruption after going online. A prime advantage of online has been the ability to accurately measure buyer behaviour. In online stores, everything can be optimised in real time for the best possible shopping experience. Thanks to new technology, this ability is now spreading to offline retail. It’s taking place really fast and Walkbase is leading that disruption."

Walkbase offers state-of-the-art online/offline campaign analysis and forecasting tools for Chief Marketing Officers who are continuing the digitisation of retail marketing budgets. The Walkbase platform makes it easy to integrate new kinds of offline customer behaviour data with existing retail business intelligence and marketing automation software. Walkbase’s current clients, many of whom are UK-based, include top brands in the fields of automotive retail, banking and fashion retail.

The investment round is being led by SBT Venture Capital, whose principal investor is Sberbank, the largest bank in Russia and Eastern Europe. "After a thorough analysis of the field at Sberbank, we have selected Walkbase as the most promising platform for marketing optimisation in offline retail. In connection, SBT Venture Capital and Walkbase have agreed on the closing of a €3M Series A round of financing," said Mircea Mihaescu, Partner at SBT Venture Capital. “In addition to the investment, we plan to adopt this technology at Sberbank across our 18,000 retail branches,” he continued.

Nokia’s former CEO Olli-Pekka Kallasvuo will participate in the investment round and join Walkbase’s advisory board. “Walkbase – solving a big problem at the intersection of connected shoppers, retail analytics and personalised shopping experience – is one of the most exciting early-stage companies I have encountered,” Kallasvuo said.

Walkbase is currently evaluating opportunities to start additional pilots with a number of high street retail chains in the UK.

For further media information please contact:

Tuomas Wuoti, CEO
+358 44 3392 405

SBT Venture Capital
Mircea Mihaescu, Partner
+7 (495) 957 5115

About Walkbase

Walkbase, the retail analytics company, delivers unprecedented real-time customer insights for brick-and-mortar retailers. Walkbase helps retailers increase sales, optimise the performance of their marketing and operations by measuring foot traffic, window conversion, visit duration, and customer loyalty. Our location analytics solution offers best-in-class accuracy and can be deployed at scale. Our customers include leading specialty retail brands, fashion and apparel retailers, casinos, and airports. Walkbase only provides aggregated, anonymous data.

About SBT Venture Capital

SBT Venture Capital is managing an early stage strategic venture capital fund focused on investing in technology innovations that have significant impact on the financial services industry. The fund principal investor is Sberbank, the largest bank in Russia and Eastern Europe, holding almost one third of aggregate Russian banking sector assets. More than 100 million individual customers bank with Sberbank, and about 1 million businesses. The Bank has the largest distribution network in Russia with more than 18,000 branches, as well as subsidiaries in 20 countries including the CIS, Central and Eastern Europe and Turkey. For more information, please visit

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Walkbase provides a retail analytics solution for improving the impact of marketing on physical stores and personalising in-store shopping experience.