AisleBuyer, a Boston-based developer of apps for mobile checkouts at retail stores, announced today that it has raised a $4 million round of equity- and debt-based funding. The financing comes in the form of a line of credit from Silicon Valley Bank, and an equity investment from InnerWorkings founder Richard Heise, Jr, also the founding investor of Echo Global Logistics, Mediabank, Forseva, and Groupon. The funding will go to new hires in the Boston AisleBuyer office, and expanding the footprint of its iPhone app, which is currently used by Boston-area retailer Magic Beans and enables consumers to scan and purchase store items from their phones to avoid waiting in line.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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