by Anh H. Nguyen
This week we received the most welcome news: Palexy is featured among CBInsights's 2021 list of top 10 worldwide technology companies in Retail Indoor Mapping Analytics. Even better, we are listed as the Outperformer despite being the youngest of the bunch! We are also the sole vendor bestowed with this title.
According to CBInsights, it means Palexy is "high in momentum with promising capacity". This assessment is no doubt due to the fact that we managed to nearly double our client count from 2020 to 2021 (a difficult time for even the most well-prepared of businesses), and that we delivered consistently high ROIs to our clients. Our well-rounded team is also recognized for being proficient in both technology and retail. Our competitive price point and no-fuss deployment are noted as two of our defining assets. As 2021 draws to a close, it is indeed heartening to get this valuable acknowledgement from one of the world's most esteemed market intelligence platforms.
Although we are still a relatively new company in the field of indoor mapping analytics, we are certainly not lacking in awareness, involvement, and exposure. From our post in Southeast Asia, we stay current with the latest news and developments in regional and global markets. As CBInsights's report has outlined, store planning tech is in high demand right now with funding already a 55% up from 2020, setting a new record. Retailers are waking up to the necessity of digitizing their stores and the numbers reflect that.
At the same time, a distinct feature of players in retail tech is that we are, by and large, self-sufficient. As our solutions create real and speedy values to our clients, we and our peers usually obtain our revenues and break even earlier compared to other start-ups. As it happens, self-sustenance is a reliable benchmark of a solid retail tech vendor. In fact, CBInsights's 2021 list of 10 displays a noticeable variety in the amounts of funds raised, from hundreds of millions of dollars to 10k. It goes to show that abundant funding (or lack thereof) does not make a break a retail tech company. Strong core technology and a zealous enthusiasm to benefit clients are far more important.
As parting words, we are both humble and grateful for the unwavering support, feedback, and encouragement from our clients in these (still) trying times. Our shared journey to digitize the world is still in its early stage, but together we will go further than we could imagine. The race is forever, but the time is now!