Trax

What Trax does

Trax is a Singapore-headquartered retail technology company founded in 2010 by Joel Bar-El and Dror Feldheim, originally pioneering AI-powered computer vision for in-store retail execution. Its core platform digitizes physical retail through image recognition (Cloud IR and On-Device IR variants), processing shelf images to deliver SKU-level insights with a disclosed 96% accuracy rate, supported by 55+ patents and a library of billions of trained images built over more than a decade. The product portfolio historically spanned Trax Image Recognition (shelf analytics), Trax Data (transactional and shelf data integration), Trax Execution (on-demand merchandising workforce via Survey.com), and Trax Engagement (the Shopkick consumer rewards app), with integrations including Salesforce Consumer Goods Cloud via the Trax Connector on AppExchange.

The company operated a global enterprise direct-sales model targeting CPG manufacturers and retailers, with named customers including Unilever, Henkel, Sanofi, GSK, AB InBev, Heineken, Molson Coors, and an eight-year P&G partnership. Revenue derived from SaaS subscriptions (image recognition and data platforms), professional services (execution and merchandising), and consumer engagement (Shopkick), all delivered under custom enterprise contracts. Trax raised over $1 billion cumulatively from investors including SoftBank Vision Fund 2, BlackRock, Warburg Pincus, Boyu Capital, HOPU Investments, and GIC, with a $640M Series E led by SoftBank in 2023 and $50M venture debt from Deutsche Bank in late 2023.

In February 2026, Trax underwent a major restructuring: the Image Recognition business was divested to Gemspring Capital, which merged it with FORM to create a combined retail execution platform. The residual Trax Ltd. retained Shopkick (consumer engagement), Survey.com (field execution), and LenzTech (China data services), while the core CV IP, patents, and IR customers transferred to the Gemspring-backed entity. The company continues to operate from Singapore with offices across the Americas, EMEA, and Asia Pacific, serving projects in over 80 countries.

Name

Trax

Legal name

Trax Technology Solutions Pte Ltd

Website

https://traxretail.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Trax is a Singapore-based retail technology company providing AI-powered image recognition, on-demand merchandising execution, and consumer engagement solutions to global CPG brands and retailers. Following its February 2026 restructuring, Trax Ltd. retains Shopkick, Survey.com, and LenzTech after divesting its Image Recognition business.

Ownership category

akta.pro rank

Product category

Retail Execution and Computer Vision Software

NAICS

Custom Computer Programming Services (541511)

akta.pro primary industry

Product Information Management (PIM), Digital Shelf & Content Syndication Services (CRAOAOAH)

Keywords

• Retail image recognition
• Computer vision analytics
• Shelf intelligence software
• Consumer engagement platform
• Retail execution solutions

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Image Recognition Solutions: SaaS-based AI-powered image recognition solutions delivered via cloud or on-device deployment. Revenue derived from software subscriptions and processing fees based on image volume or store coverage.
2. Execution Services: On-demand merchandising and field execution services leveraging a flexible workforce. Professional services for deployment, training, and ongoing support.
3. Consumer Engagement: Shopkick platform providing shopper engagement and rewards solutions for brands. Generates value through increased brand visibility and shopper loyalty.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Trax provides an AI-powered image recognition and retail execution platform that processes in-store photographs to deliver shelf-level insights for CPG brands and retailers. The platform combines computer vision (Cloud IR and On-Device IR), data analytics, on-demand merchandising execution services, and the Shopkick consumer engagement rewards app to drive share-of-shelf, planogram compliance, and in-store ROI.

Product overview

Trax offers a unified retail execution platform built around AI-powered image recognition technology. The core product is Trax Image Recognition (Cloud IR and On-Device IR variants), which processes in-store images to deliver shelf-level insights with 96% accuracy. This core platform is complemented by Trax Data (for analytics and insights), Trax Execution (on-demand merchandising workforce), and Trax Engagement (including the Shopkick consumer rewards app). Signal-Based Merchandising and Dynamic Merchandising are specialized modules launched in 2024 and 2020 respectively. The platform connects to Salesforce via the Trax Connector on AppExchange. Trax has expanded through acquisitions including Shopkick, Planorama, Survey.com, and LenzTech.

Differentiator

Problem solved

Functional benefit

Brands

• Shopkick: Location-based engagement app that motivates customer experience by engaging them with brands and stores that reward their loyalty.
• Cloud IR
• On-Device IR
• Signal-Based Merchandising
• Dynamic Merchandising

Products and services

• Trax Image Recognition AI-powered image recognition platform that digitizes in-store environments by processing images from multiple sources to provide real-time shelf insights with 96% accuracy, including Cloud IR and On-Device IR deployment options. Targeted at CPG brands and retailers.
• Cloud IR Cloud-based image recognition solution where in-store images are uploaded to Trax's cloud for analysis. Delivers granular shelf insights, compliance monitoring, and KPI tracking with a 99% response rate and 48-hour deployment speed.
• On-Device IR AR-powered on-device image recognition that operates independently of internet connectivity, using augmented reality for continuous shelf scanning and returning insights instantly without requiring photo uploads. Launched in July 2025.
• Trax Data Data platform that acts on in-store signals, transactional receipt data, consumer insights, and complete in-store conditions to drive visibility, boost sales, and maximize ROI for CPG brands and retailers.
• Trax Execution On-demand merchandising and activation service combining technology with a mobile, tech-enabled workforce for high-scale coverage and real-time correction at the shelf.
• Shopkick Location-based engagement app that motivates customer experience by engaging shoppers with brands and stores that reward their loyalty through gamified shopping experiences. Acquired by Trax in 2019.
• Signal-Based Merchandising Continuous, signal-driven approach to maximizing ROI through SKU collection locations with the highest returns. Delivers real-time shelf insights and actionable recommendations. Launched in 2023.
• Dynamic Merchandising First-of-its-kind enterprise-level service launched in 2020 combining technology with a mobile, tech-enabled workforce to address urgent store issues on demand.
• Trax Connector for Salesforce Consumer Goods Cloud Integration solution available on the Salesforce AppExchange that empowers companies using Salesforce Consumer Goods Cloud to access Trax's computer vision technology and shelf insights within their existing workflows. Launched in 2024.

Quantifiable outcome

• 11% increase in total points of distribution and 26% sales growth YoY (GoGo SqueeZ)
• +4 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability8 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core.

• SalesforcecoreTechnology or Integration · 1 January 2023Launched Trax Connector on Salesforce AppExchange, enabling companies using Salesforce Consumer Goods Cloud to access Trax computer vision technology.
• Survey.comcoreStrategic or Co-development Partner · 1 January 2020Acquired provider of prescriptive sales activation and merchandising services to expand execution capabilities.
• LenzTechcoreStrategic or Co-development Partner · 1 January 2019Acquired China's AI and big data service provider to enhance data capabilities for retail analytics.
• ShopkickcoreStrategic or Co-development Partner · 1 January 2019Acquired US-based shopping rewards app to expand consumer engagement platform capabilities.
• PlanoramacoreStrategic or Co-development Partner · 1 January 2019Acquired European provider of image recognition services for retail execution to expand EMEA coverage.
• QuricoreStrategic or Co-development Partner · 1 January 2018Acquired US-based Quri, provider of crowdsourced data on in-store conditions, to enhance data collection capabilities.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• FORM (now part of combined Trax IR entity under Gemspring Capital): AI-powered frontline execution platform for CPG and retail. Direct competitor in retail image recognition and store execution; merged with Trax's IR business in February 2026 under Gemspring Capital to form a combined retail execution leader.
• Vispera: Computer vision and image recognition provider for retail execution, focused on CPG shelf monitoring. Closely comparable in core technology (CV for shelf analytics) and target customers (CPG brands and retailers).
• Repsly: Field execution and retail merchandising software for CPG brands. Comparable in serving trade marketing teams with in-store execution, merchandising tasks, and store-level data capture.
• AFS Technologies: Retail execution and trade promotion management platform for CPG and retail. Overlaps with Trax in merchandising workflow, retail execution, and category management solutions.
• StayinFront: Cloud-based retail execution and CRM platform for CPG manufacturers. Directly comparable in image recognition for shelf audits, field activity management, and retail execution analytics.

Broad incumbents

• NielsenIQ: Global retail measurement and consumer intelligence giant. Overlaps with Trax in shelf analytics, market measurement, and CPG/retail data; broader portfolio and longer enterprise relationships make it a key incumbent competitor.
• Kantar: Worldwide market research and retail analytics firm. Competes with Trax in retail measurement, shopper insights, and category management for CPG and retailer clients.

Emerging players

• ParallelDots: AI company applying computer vision to retail shelf auditing and product recognition. Comparable in underlying technology and CPG use cases but at an earlier stage and narrower geographic footprint.
• Neptune Retail Solutions (formerly Quotient Technology): Retail media and shopper marketing platform. Overlaps with Trax's Shopkick business in driving consumer engagement and digital coupons at retail; complementary rather than direct competition.

Others

• Infectious Media (now part of GroupM): Digital media and retail media agency. Comparable only thematically — provides adjacent retail-media and shopper marketing services that overlap with Shopkick's brand engagement offerings.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/c/TraxRetail
• Facebookfacebook.com/TraxRetailTech
• LinkedInlinkedin.com/company/trax-retail
• Xx.com/TraxRetail

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds13 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trax