Radar, a startup helping retailers manage in-store inventory and reduce theft, has reached unicorn status after raising $170 million in a Series B round at a valuation exceeding $1 billion. The round was co-led by Gideon Strategic Partners and Nimble Partners, with participation from Align Ventures. Founded in 2013 by Spencer Hewett, Radar uses ceiling-mounted hardware to read RFID tags with 99% accuracy across more than 1,400 stores, including American Eagle and Old Navy. The technology enables staff to locate items instantly and helps managers identify shrink from theft or error. Backed by American Eagle CEO Jay Schottenstein, whose company was Radar's first client, the startup has helped some retailers reduce buy-online-pickup-in-store cancellation rates from 25% to 3%. One client reportedly saw a 60% reduction in shrink.

RADAR, the technology platform that leverages RFID sensor technology to track and precisely locate in-store inventory with 99% accuracy, announced the launch of RADAR+, an advanced AI analytics platform that transforms retail store operations through data-powered precision.