startupmania

Protifect, a start-up which offers software solution for prevention of stock-loss for retail chains, has recently completed a fund raising round, recruiting $5.5 million from Genesis Partners and Cedar Fund.

Protifect, founded in 2007 by CEO David Even Haim and CTO Omer Matityahu, employs about 20 employees in its Tel Aviv offices.

The company’s services monitor a retail chain’s register line, store inventory, the supply chain as well as the logistic center and purchase orders, and then gives reports and real time alerts which help the retail chain reduce its inventory loss rates.

Among Protifect’s existing clientele are the Ribua HaKachol, Paz, Delek and Co-Op Israel. Lately, Protifect began a project with a daughter-chain of the German Metro group, the fourth largest food retail chain in the world. Likewise, the company finished successful pilots with leading chains in Britain and the U.S.

According to Even-Haim, “this latest fund raising will help Protifect continue to develop our product and expand our marketing and sales activities of the company in Europe and the United States.” Even-Haim adds that “in the next year, the company intends to recruit about 15 new employees.”

Adi Shalev, a management partner in Genesis Partners told StartUpMania that, “this is an investment in a company with a unique solution, that answers a critical market need in the global world of retain and thus, it’s potential for growth is amazing. The effort to incorporate the solution is minimal and the profit to the retail networks appears almost instantly.”

Translated by Itai Rosenbaum