Trending Now - Retail Tech Firm Secures $170M, Achieves Unicorn Valuation

WHO:

CNBC - Jay Schottenstein stated that American Eagle was the first retailer to implement Radar's technology across its stores.

CNBC - Radar is a startup founded by Spencer Hewett in 2013.

CNBC - Jay Schottenstein is the CEO of American Eagle and an investor in Radar.

CNBC - Radar's technology is used by retailers including American Eagle and Gap's Old Navy.

WHAT:

CNBC - Radar's technology has enabled American Eagle to achieve "greater inventory visibility, empowered our associates and sharpened our insights," according to Schottenstein.

CNBC - One client of Radar reported a 60% reduction in inventory shrink after launching Radar at one of its stores.

CNBC - Radar raised $170 million in a Series B funding round.

CNBC - The funding round achieved a valuation of over $1 billion, reaching unicorn status.

CNBC - Radar's technology can read RFID tags with 99% accuracy.

CNBC - Retail clients using Radar have seen order cancellation rates drop from 25% to 3%.

CNBC - One client reported a 60% reduction in inventory shrink after implementing Radar.

WHERE:

CNBC - Radar's technology is implemented in over 1,400 stores.

WHEN:

CNBC - The Series B funding round occurred recently, but no specific date is provided.

WHY:

CNBC - Radar aims to improve inventory management and reduce theft and lost merchandise for retailers.

CNBC - The technology addresses challenges in inventory oversight, which can lead to lost sales and reduced profit margins.

HOW:

CNBC - Radar's technology allows in-store employees to quickly locate items for customers, addressing issues with inventory accuracy and availability.

CNBC - Radar uses hardware mounted to store ceilings to manage inventory.

CNBC - The technology allows in-store employees to quickly locate items for customers, improving service efficiency.

(UPDATED May 19, 2026 19:35 UTC)

American Eagle has become the first retailer to implement Radar's technology across its stores, according to Jay Schottenstein. This innovative technology has provided American Eagle with greater inventory visibility, empowered associates, and sharpened insights, while one client reported a remarkable 60% reduction in inventory shrink after launching Radar at a store. With Radar, in-store employees can quickly locate items for customers, effectively tackling challenges related to inventory accuracy and availability.

--

(UPDATED May 19, 2026 17:52 UTC)

Radar, a startup founded by Spencer Hewett in 2013, has successfully raised $170 million in a Series B funding round, achieving a valuation of over $1 billion and reaching unicorn status. The company's innovative technology, which reads RFID tags with 99% accuracy, is currently implemented in over 1,400 stores, helping retailers like American Eagle and Gap's Old Navy significantly reduce order cancellation rates and inventory shrink. By using hardware mounted to store ceilings, Radar enhances inventory management and improves service efficiency, allowing employees to quickly locate items for customers.