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- CitiXsys
CitiXsys Funding, Investors & Competitors
CitiXsys has raised $120M across 4 funding rounds, most recently a $15M Series A in September 2020.
Last CitiXsys funding round
$15M
Series A · Sep 2020
Cumulative funding CitiXsys raised
$120M
across 4 funding rounds
Key investors in CitiXsys
Housatonic Partners
Goldman Sachs (merchant banking unit)
Samsonite
Circle K Corporation
Crabtree & Evelyn
Havaianas
Virgin Mobile USA
About CitiXsys
CitiXsys is a Singapore-headquartered provider of retail management software through its iVend Retail suite. Deployed in over 46 countries, iVend supports multichannel operations including POS, inventory, and customer loyalty for fashion, grocery, and specialty retailers. The cloud-based platform integrates with ERP systems like SAP and offers mobile POS capabilities, helping chains streamline merchandising and e-commerce fulfillment.
Founded
2002
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
CitiXsys Funding History
CitiXsys has raised a total of $120M across 4 funding rounds.
CitiXsys' first fundraising round was a $25M Series A in January 2018. The most recent completed round was a $15M Series A in September 2020.
CitiXsys funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2020 | Series A | - | $15M | - |
| Nov 2019 | Series C | Goldman Sachs (merchant banking unit) (lead) | $60M | CitiXsys, a New York-based SaaS company, develops the iVend Retail platform, providing integrated omnichannel solutions for retail and hospitality industries. The software enables seamless management across sales channels, including point-of-sale transactions, e-commerce, inventory, loyalty programs, promotions, customer relationships, accounting, product pricing, and analytics, serving clients like Samsonite, Vodafone, MTN Telecom, Virgin Mobile, The Body Shop, Asics, Kazyon, The Vitamin Shoppe, Goodwill Industries, and Havaianas in over 95 countries. On November 7, 2019, CitiXsys closed a $60 million financing round led by Goldman Sachs Merchant Banking Division (MBD), bringing total funding raised to $105 million. This followed a $20 million Series B in October 2018 led by Housatonic Partners and a prior $25 million Series A from undisclosed investors. The transaction involved a pre-financing reorganization of subsidiaries in Ireland, UK, UAE, Canada, and India, subsequent to redeeming a major Series A investor. The funding supports growth and expansion, including strategic acquisitions to complement offerings and providing complete infrastructure and application management for global retailers amid digital transformation. CEO Kamal Karmakar highlighted enabling front-end shopper experiences and back-end streamlined processes. Terence Doherty of Goldman Sachs MBD praised CitiXsys' best-in-class innovation adding value worldwide. The company has alliances with Sage, SAP, Microsoft, Magento, and others via Open APIs for ERP and third-party integrations. No sources disclose post-money valuation, revenue, ARR, EBITDA, or valuation multiples for this round. One unrelated NYC funding summary mentions a $2.5 billion figure, but context does not confirm it applies to CitiXsys. |
| Oct 2018 | Series B | Housatonic Partners (lead); Crabtree & Evelyn; Circle K Corporation; Virgin Mobile USA; Havaianas; Samsonite | $20M | CitiXsys Holdings, Inc. is a New York-based provider of integrated omnichannel retail management software solutions for mid-market retailers, offering capabilities in point of sale, inventory and fulfillment optimization, loyalty programs, pricing and promotion management, with integrations to Sage, SAP, and Microsoft via Open API. The company's flagship product, iVend Retail, supports over 1,500 retailers across 85+ countries from 14 offices worldwide, including a development center in New Delhi, India. Founded in 2005, CitiXsys focuses on modern retail software driving customer experiences in a fast-evolving market. In late October 2018 (announced September 28 and October 29), CitiXsys closed a $20 million Series B funding round led by Housatonic Partners, a private equity firm specializing in growing businesses with recurring revenue and over $1.3 billion under management. This brought total funding to $45 million, following a prior $25 million Series A. Strategic investors included Circle K Corporation, Crabtree & Evelyn, Havaianas, Samsonite, and Virgin Mobile USA, aligning with CitiXsys's retail focus. The investment aims to fuel accelerated organic and inorganic global growth, leveraging strong product offerings, high customer satisfaction, and market recognition. Housatonic Partners views CitiXsys as a long-term growth platform in retail software, praising CEO Kamal Karmakar's leadership and the company's positioning. |
| Jan 2018 | Series A | Housatonic Partners (lead) | $25M | CitiXsys is a leading provider of integrated omnichannel retail management solutions founded in 2005 (though one source indicates 2006) and headquartered in New York. The company serves mid-market retailers globally, working with over 1,500 retailers across 85+ countries through 14 offices worldwide. Its flagship product, iVend Retail, offers capabilities in point of sale, inventory and fulfillment optimization, loyalty programs, and pricing and promotion management. The company has strategic alliances with major enterprise software vendors including Sage, SAP, and Microsoft, providing certified API connections to enable retailers to integrate third-party solutions. In October 2018, CitiXsys closed a $20 million Series B funding round led by private equity firm Housatonic Partners. This brought total capital raised to $45 million, following a Series A round of $25 million. Housatonic Partners, founded in 1994 with over $1.3 billion in assets under management, identified CitiXsys as a best-positioned player in the fast-evolving retail software market and expected the investment to accelerate both organic and inorganic global growth. The company demonstrated strong fundamentals including a modern product offering, high customer satisfaction, and increasing market recognition, positioning it as a growth platform in the retail software sector. |
Who has invested in CitiXsys?
7 investors have backed CitiXsys across its funding rounds, including Housatonic Partners, Goldman Sachs (merchant banking unit), Samsonite, Circle K Corporation, Crabtree & Evelyn and Havaianas.
Lead investors include Goldman Sachs (merchant banking unit) and Housatonic Partners.
CitiXsys Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2018 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Lead | Nov 2019 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCitiXsys Competitors
CitiXsys competitors include listed companies like Toast, Shiji Group and Newland Digital Tech, and private ones like Replit, Chowbus and SpotOn.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $6.2B | $359M | $18B | 2.3x | ||
| Private | $1B | - | $9B | 9.0x | ||
| Private | $120M | - | $4.2B | 35.0x | ||
| Private | - | - | $3.6B | - | ||
| Publicly listed | $416M | $21M | $3.1B | 6.2x | ||
| Publicly listed | $1.3B | $189M | $3B | 1.5x |
CitiXsys Public Comps
CitiXsys is still privately-owned, but its public comps include Toast, Shiji Group, Newland Digital Tech, Agilysys, Vusion, Pine Labs, Diebold Nixdorf, Nayax, Lightspeed Commerce and NCR Voyix.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $6.2B | $359M | 2.6x | 2.3x | 44.6x | 20.8x | |||
| $416M | $21M | 6.4x | 6.2x | 128.0x | 97.1x | |||
| $1.3B | $189M | 1.8x | 1.5x | 12.2x | 10.6x | |||
| $319M | $57M | 8.7x | 8.1x | 48.7x | 35.8x | |||
| $1.7B | $313M | 1.0x | 0.9x | 5.6x | 4.8x | |||
| $250M | $14M | 8.0x | 6.4x | 145.8x | 32.6x | |||
| $3.8B | $329M | 0.7x | 0.7x | 8.6x | 5.5x | |||
| $400M | $66M | 4.2x | 3.5x | 25.4x | 21.5x | |||
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Common questions about CitiXsys
| When was CitiXsys founded? | CitiXsys was founded in 2002. |
| Where is CitiXsys headquartered? | CitiXsys is headquartered in New York City, NY, United States. |
| Is CitiXsys publicly listed? | No, CitiXsys is a private, VC-backed company. |
| How much funding has CitiXsys raised? | CitiXsys has raised $120M across 4 funding rounds. |
| What was CitiXsys' last funding round? | CitiXsys' last funding round was a $15M Series A in September 2020. |
| Who are CitiXsys' investors? | CitiXsys' investors include Housatonic Partners, Crabtree & Evelyn, Circle K Corporation, Virgin Mobile USA, Goldman Sachs (merchant banking unit), Havaianas and Samsonite. |
| Which companies are comparable to CitiXsys? | Companies comparable to CitiXsys include Toast, Replit, Chowbus, SpotOn, Shiji Group and Newland Digital Tech. |
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