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Toronto’s Tulip Secures $40 Million to Bloom Retail App

Tulip announced today the mobile commerce platform raised $40 million US in a Series B funding round led by Menlo Park’s Kleiner Perkins. The financing marks the venture capital firm’s largest investment in a Canadian technology startup.

Built for in-store associates, Tulip‘s platform gives retailers real-time access to a run-down of customer preferences, store inventory, and product details and reviews. Tulip-powered tablets and smartphones can also double as a point-of-sale device for checkout.

Headquartered in Toronto, Tulip’s platform is being used in 25 countries and in seven languages, and the new funding will be channelled towards the company’s international growth, according to a statement.

“Tulip is now the leader in mobile solutions for retail store workers and this investment will only strengthen that position,” said Tulip CEO Ali Asaria in a press release.

Asaria said Kleiner Perkins’ vision is “as ambitious as our own,” and touted the firm’s previous investments in tech giants like Google and Amazon.

“Kleiner Perkins has a track record of working with founders to think bigger and longer term when it comes to strategy and market opportunities,” he said. “We will use this funding to continue to invest in innovation and resources focused on making our customers even more successful.”

It was also announced that Mood Rowghani, general partner at Kleiner Perkins, is joining Tulip’s Board of Directors. In a statement, Rowghani said Tulip is “years ahead” of competitors within the retail industry.

“[Tulip] is helping modernize brick and mortar stores by enabling a more personalized and intimate experience for consumers while helping them establish an on-going relationship with their favourite brands,” he said.

Since its 2013 launch, Tulip has attracted heavy hitters in the retail market including Saks Fifth Avenue, Kate Spade, and Coach.

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