NOL Program Participant Moblty Helps Retailers Transform Everyday Shopping Experience
Moblty employee Brenna Stuhler showcasing the giant interactive experience built by Moblty for Altice in the Garden State Plaza, Paramus.
TRENTON, N.J. (January 24, 2018) – Understanding the needs of retailers to keep pace in a digital age, Livingston-based Moblty has developed what is emerging as a leading shopper marketing software platform, helping businesses digitize their footprint and enhance customers’ shopping experiences.
Through a unique suite of products and services, Moblty enables brands to offer customers digital shopping inside the brick-and-mortar store experience. Among other features, shoppers can use interactive in-store displays to swipe, click, and engage with video, social media and coupons.
The platform also provides retailers with big shopper data and analytics. Moblty Chief Executive Officer Rajesh Saggi explained that clients have noticed that Moblty has led to “bigger basket size, higher dwell time, greater loyalty club sign-up, and better product navigation and cross-channel support.”
Moblty’s clients include high-profile brands across such sectors as beauty, wine and spirits, hospitality, and airport duty-free shops.
“In a short period of time, global companies have adopted Moblty’s platform ,” Saggi said. “As retail continues to re-invent itself, for the purpose of survival, modernization, and digitization, Moblty is the firm to which businesses are turning.”
He credits the State’s Technology Business Tax Certificate Transfer (NOL) Program with helping his business grow. Administered by the New Jersey Economic Development Authority (EDA) and the New Jersey Department of Treasury's Division of Taxation, this competitive program enables eligible technology and biotechnology companies to sell New Jersey tax losses and/or research and development tax credits to raise cash to finance their growth and operations.
“With funding from the NOL Program, we will be able to hire more people, grow our client base and, in turn, help them draw in additional customers,” Saggi said.
Moblty was one of 39 companies approved to share over $46 million through the program in 2017. This is the first time Moblty is participating in the NOL Program. More than 525 businesses have been approved for awards totaling over $950 million since the program was established in 1999.
“We repeatedly hear from participants what a lifeline the NOL Program is for their companies,” EDA President and Chief Operating Officer Tim Lizura said. “We are excited that Moblty has joined the growing list of businesses benefitting from this program.”
@NJEDATech spoke with Saggi about Moblty’s experience in New Jersey and its plans for the future:
Why did you choose to grow your business in New Jersey?
New Jersey has an amazing pool of technology talent that wants to work in the state, and not commute to New York City. We are a beneficiary of that talent. New Jersey also has a great business climate — the State is very pro-business; it has a great investment climate, and it is home to many of our major clients. Also, from our Livingston headquarters, it is just a short commute to New York City.
How has Moblty most benefitted from the NOL Program?
The NOL program has proven itself to be a perfect non-dilutive mechanism to generate additional working capital to run the and grow the business.
What’s on the horizon for Moblty?
Our goal is to develop a global footprint. We have clients who are taking us to Europe and the Middle East, and want us in China “yesterday.”