Buxton, a Fort Worth-based retail customer analytics provider, announced a strategic growth investment led by PSG, a growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth.
Buxton also announced that PSG Senior Advisor Jim Swift has been appointed chief executive officer, and that founders Tom Buxton and David Glover will join the board of directors.
Jim Swift is the new CEO at Buxton [Photo: PSG]
“Truly understanding your customers and predicting their needs and future behaviors are essential capabilities for consumer-oriented businesses to succeed in an increasingly omnichannel, rapidly changing environment,” Swift said in a statement.
The new CEO of Buxton also expressed his appreciation to the founders of the company, saying, “I’m grateful to Tom and David for their trust and the opportunity to lead Buxton into this exciting new chapter, and with the support of PSG, we believe we will be well positioned to continue our mission to provide powerful consumer insights that go beyond demographics and the software solutions to make those insights actionable.”
Buxton is a software-based customer analytics platform that leverages demographics, psychographics, and buying behavior data to aid companies to better understand consumer behaviors and ultimately improve customer acquisition, customer relationship management, retail operations, and site selection.
The platform helps companies optimize their in-person, online, and omnichannel performance and manage their physical location strategies, the company said.
Expanding products, services, and innovation
The company said proceeds of the funding will help Buxton expand its suite of products and services and continue to innovate on behalf of U.S. companies across the retail, restaurant, hospitality, and healthcare sectors.
“Since its inception nearly 30 years ago, Buxton has strived to build a reputation as a trusted innovator in analytics with market leaders across several different retail-related industries,” PSG Managing Director Tom Reardon said in a statement. “We are excited to partner with Jim Swift and the Buxton team to build on that legacy and help drive long-term, sustainable growth in a market that we believe has significant tailwinds.”
Buxton serves more than 400 customers across a range of industries, including Red Wing Shoes, Chicken Salad Chick, Heartland Dental, and OrangeTheory.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams.
It has backed more than 120 companies and facilitated more than 430 add-on acquisitions. Founded in 2014, PSG brings extensive investment experience, deep expertise in software and technology, and a commitment to collaborating with management teams. It operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv.
No financial details for the deal were released.
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