Radar, a US-based startup specializing in retail loss prevention and inventory management technology, reached a valuation of over $1 billion in its latest funding round in May 2026, earning unicorn status [1, 2]. The company raised $170 million in a Series B round co-led by Gideon Strategic Partners and Nimble Partners, with participation from Align Ventures [2].
Founded in 2013 by Spencer Hewett, Radar initially aimed to develop instant checkout technology but later refocused on inventory management solutions for brick-and-mortar stores [2]. Its technology mounts hardware on store ceilings that reads RFID tags with 99% accuracy, helping employees quickly locate inventory to improve customer experience [2]. Hewett explained, "If a customer asks them, 'I want this in a different size' they can immediately see where in the store it is, no matter where it's been moved, and get it for the customer" [2].
Radar's platform is currently used in more than 1,400 stores, including American Eagle and Gap's Old Navy brands [1, 2]. American Eagle was the first retailer to implement Radar's technology across all its stores. American Eagle CEO and Radar investor Jay Schottenstein said, "American Eagle has unlocked greater inventory visibility, empowered our associates and sharpened our insights. With inventory digitized in real-time, we have enabled our creative, operations and technology teams to place their focus on creating seamless, customer-first experiences that define the American Eagle brand" [2].
Radar’s Series B funding will support ongoing expansion and technology development. The company aims to grow its retail partnerships and further integrate its hardware and software to enhance inventory accuracy and reduce shrinkage.
The company was founded by Spencer Hewett in 2013 and has steadily grown its footprint since then [2]. The latest funding round confirms strong investor confidence in Radar’s approach to digitizing physical retail operations.
Radar’s next key milestone is expanding deployments in additional retail chains throughout the US later in 2026 [2].
