TechColumbus Provides Pre-Seed Funding to Multi-Channel Retail Solutions Developer nChannel

TechColumbus announced that cloud-based retail solutions provider, nChannel, Inc., has been approved for up to $300,000 in financing from the TechColumbus Pre-Seed Fund. 

nChannel, headquartered in the TechColumbus incubator, is developing an easy-to-use, cloud-based platform that enables retailers to cost effectively synchronize and exchange sales, customer and product data from transactions that occur at the register, in the warehouse, or via a Web-store.  The system will be sold directly to subscribers via the nChannel Web site, but is also available through nChannel’s network of value-added resellers.  Software developers will also be able to partner with nChannel to provide connectivity from their software applications to the nChannel platform, providing further value to retailers.  

“Today’s retailers have the chance to sell their products through so many more outlets than were ever before possible – through their own Web site, through Amazon or eBay – not to mention traditional storefronts,” said Steve Weber, nChannel Co-Founder and CEO.  “But these additional opportunities come with new challenges – how do you keep track of  inventory in real-time, how do you make sure you’ve got consistent item availability and pricing across channels, how do you ensure you’re meeting all of your customer commitments when all this information is housed in many different systems?”

The nChannel platform will solve these challenges for the small to mid-sized retailer by including a library of “connectors” for a variety of leading eCommerce, POS and financial applications.  Connectors will allow nChannel to synchronize data from a retailer’s existing financial, POS and eCommerce systems providing a Web-based interface to manage  product, order and customer data, in addition to powerful reporting capabilities.

Available for general release in January 2012, nChannel’s centralized, cloud-based model will enable retailers to gain efficiencies by reducing data entry required to maintain multiple sales channels and improve sales and inventory visibility.  These capabilities will provide retailers with revenue-producing options such as drop ship, in-store-pickup or delivery services that improve customer satisfaction. 

nChannel was co-founded by Steve Weber and Jeff Grundey.  Weber possesses more than 20 years experience in the software industry and is the former vice-president of eMarketplace Outsourcing Services for Sterling Commerce, a division of IBM. Weber’s experience includes building and leading teams in various roles including sales, marketing, product development, infrastructure hosting, call center operations and customer service.   Grundey is a 20-year veteran of the retail, financial services and insurance industry.  The two first partnered in 2008, focusing on the development of the financial software synchronization practice for the retail industry.

nChannel will utilize the Pre-Seed investment to accelerate its growth and market opportunity by productizing the existing platform and developing compatibility for additional retail and eCommerce solutions. 

“The investment commitment we’ve received from TechColumbus will enable us to build and launch nChannel – but the impact of TechColumbus in helping us launch is far greater,” said Grundey who serves as the company’s CFO.  “The expertise TechColumbus brings to the table has been invaluable.  They not only have helped us develop a solid business plan, but more importantly, they help us maintain the day-to-day discipline and focus needed to meet our plan’s objectives.”