Berkeley, California, March 5, 2024–(BUSINESS WIRE)–Jong Hyun joins Grabango as Chief Financial Officer, bringing decades of software industry finance and operations experience. Hyun has led multiple financings, IPOs, and M&A transactions totaling over $6 billion.
Will Glaser, Founder and CEO of Grabango, said: “John has deep financial and transactional expertise and has achieved impressive results across a range of businesses across analytics, legal tech, ad tech and gaming. ” he said. “We are excited to have John join our team. He will play a key role as we expand Grabango globally and prepare for the next phase.”
Grabango provides checkout-free technology to major retail chains such as Chevron, Circle K, Kopec, and 7-Eleven. Grabango uses computer vision to identify every product in your store, so you always know where each item is. This allows shoppers to skip lines and leave the store without checking out. With Grabango, retailers do not need to make changes to store planograms or products, and technology is deployed without disrupting stores or impacting shoppers.
“Grabango's checkout-free technology is a game-changer, offering a first-of-its-kind approach to streamlining the checkout experience,” said Hyun. “Retail is a thin margin business. By automating the checkout process, Grabango increases sales while reducing operating costs, significantly improving ROI for retailers. We are excited to be part of this rocket business. My software and retail experience align closely with Grabango's business goals and the team is exceptional. ”
Hyun joins Grabango from Mode Analytics, a leading SaaS analytics provider, where he led finance and corporate development as CFO, expanded internationally through M&A, and led the company's sale of over $200 million. Hyun previously served as vice president of finance at the fast-growing SaaS legal technology company Rocket Lawyer and the leading video advertising technology provider YuMe, where he led IPO preparations. He also has experience as an investment banker and corporate banker with clients including Kroger, US Foods, Nike, and Harry & David.
About Grabango
Grabango is a leading provider of checkout-free technology for large chains. Grabango delivers a next-generation shopper experience and is the only enterprise-class checkout-free solution suitable for existing stores. The Grabango platform is a fault-tolerant edge computing AI network that accurately processes millions of concurrent transactions. With this system, there are no restrictions on who can enter the store, what can be sold there, or the configuration of the shelves. For more information, please visit www.grabango.com.
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