New York, November 7, 2019 – CitiXsys today announced that it has closed a $60 million financing transaction, led by Goldman Sachs Merchant Banking Division (MBD). CitiXsys, with its software platform iVend Retail, is a leading provider of integrated omnichannel solutions for the retail and hospitality industries with its solutions used in over 95 countries.
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.
Terence Doherty, Managing Director, Goldman Sachs MBD
Recognized for its innovation in the retail sector, CitiXsys’ flagship offering, iVend Retail enables medium to large enterprise businesses to deliver seamless customer experiences with end-to-end retail management systems. The company counts as among its clients Samsonite, Vodafone, MTN Telecom, Virgin Mobile, The Body Shop, Asics, Kazyon, The Vitamin Shoppe, Goodwill Industries and Havaianas.
With the global retail outlook expanding, leading retailers are positioning themselves to capture these sales by embracing a new form of retail, that of a hybrid business between physical and digital experiences wherein there is no barrier for the customer, who can choose at any time its omnichannel purchase method. CitiXsys solutions are precisely designed to deliver on this by enabling retailers to compete in virtually any sales channel and provide the personalized, consistent experiences customers have come to expect today with integrated capabilities for sales, promotions, in-store and mobile Point-of-Sale transactions, customer relationships, accounting processes, eCommerce, inventory and fulfillment, loyalty programs, product & pricing management, and analytics.
As a pioneer in integration technology, CitiXsys has developed alliances with Sage, SAP, Microsoft, Magento and many others as part of its overall platform strategy, offering certified connections via Open APIs to enterprise resource planning and other third-party customer-facing solutions so retailers have the right tools to respond quickly to rapidly changing market dynamics.
Terence Doherty, Managing Director at Goldman Sachs Merchant Banking Division said, “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.”
“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. 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,” shared Kamal Karmakar, CEO of CitiXsys. “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.”
CitiXsys is a leader in retail management software that is recognized worldwide for its rich functionality, multi-national capabilities, and unparalleled flexibility. The flagship solution suite, iVend Retail helps retailers increase revenue, build customer loyalty, and reach new customers while lowering operating costs with solutions for point of sale, loyalty, digital passes, analytics and mobility offering out-of-the-box integrations to Magento Commerce, Sage 300cloud and X3, Microsoft Dynamics 365 Business Central, SAP Business One, S/4 HANA, ECC 6.0 and IS-Retail to produce a flawless ecosystem where data flows instantly and freely. CitiXsys solutions are available through a worldwide network of certified partners. Visit ivend.com for more information and follow us @iVendRetail on Twitter and CitiXsys-iVend Retail on LinkedIn.
About Goldman Sachs
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate. For more information on Goldman Sachs Merchant Banking Division, visit www.goldmansachs.com.