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Retail Inventory Startup Radar Reaches $1B Valuation in Series B Round

Radar, the inventory management platform backed by American Eagle CEO Jay Schottenstein, has achieved unicorn status following a $170 million Series B funding round. The company, founded in 2013 by Spencer Hewett, is now valued at over $1 billion. Gideon Strategic Partners and Nimble Partners co-led the raise, with participation from Align Ventures. Radar's ceiling-mounted hardware uses radio-frequency identification technology to track inventory with 99% accuracy, addressing a critical pain point in retail operations. American Eagle was the first major retailer to deploy the system across its entire store network. The platform now serves Old Navy and more than 1,400 stores total, helping retailers combat theft and merchandise loss while improving inventory visibility. The funding strengthens Radar's position in the retail technology sector.