RFID is beginning to take off, and GOLIATH Solutions is behind one of the technology's most widespread applications. Packaged goods companies (say, Clorox) spend $17 billion a year to produce and distribute in-store advertising, but unable to confirm that most of those ads are properly displayed (a small sample of stores are audited). By putting an RFID tag in advertising and displays, GOLIATH's system can track 1) when and where the displays are put in stores, 2) link this data to point-of-sale systems, and 3) see if that in-store ad increases product sales.
Bob is CEO of GOLIATH and is a repeat offender around Chicago. Previously, he was president of FastWEB (acquired by Monster), chairman of FunBrain (acquired by Pearson), and operated a division of iXL (an IT strategy and services company). Their management team is full of seasoned players and the company has made it a point to involve retailers, packaged goods companies, and key industry associations to design and test this solution from the beginning. At the end of last year, GOLIATH signed a deal with Walgreens to install their system in all 5000 stores.
Dimensions: ~50 people x 5 year x $NDA
Funding: Multiple rounds of funding exceeding $10 million, including BP (convenience store), Point of Purchase Advertising association (POPAI), and 2.5 million from Checkpoint Systems.
Customers: Companies who want to measure the effectiveness of in-store advertising
Location: Deerfield, IL + www.goliathsolutions.com
