Continuing its steady growth, Bentonville software firm Movista has acquired its primary competitor.
Movista, Inc. has acquired Natural Insight, a Sterling, Va.-based company that provides a retail and workforce management platform. Movista also now owns a majority stake in Natural Insight’s Capango, a mobile retail job matching platform. The transaction was brokered by New York firm Level Equity, which also led a financing round for Movista in September 2018.
Founded as an MBA class project by co-founder and CEO Stan Zylowski, Movista was developed as a way for companies to remotely manage employees. Originally, the platform was designed to be kiosk-based, but with the rise of smart phones, the company shifted to providing service via smart devices.
Zylowski and co-founder April Seggebruch launched the company officially in 2010 after participating in competitions, such as the Arkansas Governor’s Cup, and returning to their corporate jobs.
Since that time, Movista has steadily grown, having secured a $12 million growth equity investment in 2018.
Zylowski says the Natural Insight acquisition is part of Movista’s strategy of providing a strong customer experience and innovation in the retail market.
“In today’s rapidly evolving retail environment, customer experience is critical. Physical stores have to look great, and products have to be where expected,” Zylowski said in a statement. “Stefan and his team at Natural Insight share our passion for value delivery and customer-focused innovation. Our technologies ensure the shopper finds what they want, when they want, where they want. Together, we will lead the way to a more mobile, agile and collaborative retail environment that delivers tangible, measurable returns for our customers.”