by Mark Carter
Posted 7/16/2013 02:08 pm
Updated 5 months ago
The funds will be used to commercialize Movista's proprietary technology, which provides retail tracking, verifying and reporting activities, according to a news release. The funds will come from ASTA's Seed Capital Investment Program.
Movista is an Innovate Arkansas client firm. ASTA recently invested in another IA company, Angel Eye Camera Systems of Little Rock.
Movista is expanding its services beyond the retail industry to manufacturers and labor brokers.
"We’re leveraging mobile smart devices that people already have in their possession. Managers create work packets on their Apple or Android devices and send them to their workers in the field," said Movista co-founder April Seggebrush. "The workers then receive the requests, complete the work and send back confirmation in various formats which can include PDF files, photos or even GPS verification."
Movista president and co-founder Stan Zylowski estimated that roughly $200 million a year is lost to fraud and inefficiency in the retail industry. Movista’s solution, he said, aims to have a substantial impact on a company's bottom line.
Movista was formerly known as Merchant View, which remains the name of its retail product.