SINGAPORE – October 31, 2018 – Trax, the leading provider of computer vision and analytics solutions for retail, announced that Red Herring has listed Singapore-based Trax among “a hundred of tech’s brightest startups” worldwide.
Red Herring announced its Top 100 Global in recognition of the leading private companies from North America, Europe, and Asia, celebrating these startups’ innovations and technologies across their respective industries.
Red Herring’s Top 100 Global list has become a mark of distinction for identifying promising companies and entrepreneurs. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work.
Deloitte also ranked Trax in the top 25 fastest growing companies in its Technology Fast 500 list in 2016.
Trax has revolutionized the retail industry by delivering a single source of shelf truth for Consumer Packaged Goods (CPG) companies and retailers. Its offering provides in-store execution, market-measurement and data-science solutions for CPG brands and retailers by harnessing its cutting-edge computer vision platform to process photos taken in store with mobile devices to deliver real-time, granular shelf and store-level insights.
“To be named by the 2018 Red Herring Top 100 Global list as an innovator is a major sign of the progress we are making to become the ubiquitous source of shelf data in the retail industry,” said Joel Bar-El, Trax CEO and co-founder. “This recognition is a testament to the entire Trax team for its commitment to excellence in customer service and technological innovation around in-store data science. Trax has been accelerating global expansion of its retail solutions to give more CPGs and retailers – the likes of Coca-Cola, Heineken and AB InBev among others – the opportunity to benefit from never-before-accessible insights into the shelf.”
“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across the globe to the Top 100 Winners. We believe Trax embodies the vision, drive and innovation that defines a successful entrepreneurial venture. Trax should be proud of its accomplishment.”
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of track records and standing of companies relative to their peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising, new business models from around the world.
Trax is the leading provider of computer vision solutions and analytics for retail, recently ranked in the top 25 Fastest Growing Companies on Deloitte’s Technology Fast 500 list. The company enables tighter execution controls in-store and provides clients with the ability to leverage competitive insights through its in-store execution tools, market measurement services and data science to unlock revenue opportunities at all points of sale. Many of the world’s top brands and retailers leverage Trax globally in more than 50 countries to manage in-store execution and increase revenues at the shelf. Trax is headquartered in Singapore with offices worldwide. To learn more about Trax, please visit www.traxretail.com.
Warren Getler, Vice President, Strategic Communications
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