With the exception of store management technology, overall retail tech investment activity cooled during the first quarter.
This is even among unicorn companies whose valuations reach or surpass $1 billion. For a time, retail unicorns appeared to be having a moment. Away, Casper, Glossier and Rent the Runway all earned the title in 2019. And last year, 17 retailers filed for IPOs, coming off of a two-decade high across industries.