Israeli unicorn Trax merges with retail tech firm Form in bid to lead in-store analytics
Trax, which has raised over $1 billion from investors including SoftBank and BlackRock, joins Form to expand AI-driven shelf analytics.
Form, the developer of field management software, has announced a merger with Israeli company Trax, a developer of image recognition technology. Trax is known for its AI-based shelf-level insights, which help brands improve product availability and drive growth in physical stores.
The company has raised over $1 billion across 11 funding rounds. In April 2021, it secured $640 million in a Series E round, one of the largest funding rounds in the history of an Israeli company, led by SoftBank’s Vision Fund 2 and BlackRock. In its most recent major financing, Trax was valued at between $2 billion and $3 billion. According to estimates, the company currently employs hundreds of people in Israel and around the world. Trax was founded by Joel Bar-El and Dror Feldheim. The two retired from day-to-day operations at the company in 2024, but continued serving on the board of directors.
Under the agreement, Trax’s flagship image recognition solution will be integrated into Form’s product portfolio, alongside the established GoSpotCheck and FORM OpX systems.
"Together, we can deliver more speed, innovation, and impact so customers gain timely, accurate and actionable insights at a global scale," said Form CEO Ali Moosani. "We're combining world-class teams and industry-leading technology that will allow our customers to set a new standard for retail execution and shopper experience. Our shared vision is clear, and our customers will see the results."
The combination of the two companies is expected to deliver significant benefits for clients, most notably an expanded geographic footprint. With operations spanning North America, Europe, Asia-Pacific, and Latin America, Form will now offer broader coverage and deeper regional expertise.
Founded in 2001, Form began in digital data capture and task automation before expanding its offerings with a focus on retail execution and shelf intelligence through the acquisitions of GoSpotCheck, Shelfwise, and BossaNova.
Founded in 2010, Trax equips customers with granular, SKU-level visibility into changing store conditions, enabling timely, data-driven decisions that improve planning and execution, accelerate growth, and reduce costs. Trax has offices in the United States, Singapore, France, Hungary, Mexico, Brazil, and Israel, serving customers in more than 80 countries worldwide.
