American Eagle Deploys Radar’s $1B-Valued RFID System, Cuts Cancellations to 3%
Radar raised $170M in Series B funding at a $1bn valuation, backed by Gideon Strategic Partners, Nimble Partners and existing investor American Eagle CEO Jay Schottenstein. American Eagle has deployed Radar’s ceiling-mounted RFID inventory system across its stores, cutting order cancellations to 3% from 25% and reducing shrinkage by 60%.
1. Series B Funding and Unicorn Valuation
Radar secured $170 million in a Series B funding round co-led by Gideon Strategic Partners and Nimble Partners, lifting its valuation above $1 billion. Align Ventures also participated in the round.
2. American Eagle Deployment and Investment
American Eagle CEO Jay Schottenstein invested in Radar and led its deployment as the first retailer to install the ceiling-mounted RFID hardware across all of its stores. The technology is now active in roughly 1,400 retail locations, offering real-time inventory tracking.
3. Operational Improvements and Benefits
Radar’s RFID system delivers a 99% item read rate, enabling employees to locate sizes and colors instantly and reducing curbside and in-store pick-up cancellations from 25% to as low as 3%. Pilot sites also reported a 60% drop in shrinkage through early detection of delivery shortfalls and inventory discrepancies.