Invent Analytics (see Pulse 2.0 profile), a global retail planning solutions provider, announced that it has secured $17 million in Series B funding. The funding round was led by LFX Venture Partners, in partnership with existing investors European Bank for Reconstruction and Development (EBRD) and Collective Spark.
LFX Venture Partners is a supply chain-focused investor with 15+ years of experience investing in technology-driven solutions designed to address age-old problems within the global supply chain. Invent Analytics will use the funding to enhance the capabilities of its AI platform, continue innovating, strengthen strategic partnerships, and broaden its team of retail experts.
Invent Analytics is helping leading brands maximize profits by leveraging its AI-powered SaaS solutions for demand forecasting, inventory planning, replenishment, allocation, returns positioning, pricing, etc.
Launched in 2013, Invent Analytics has offices in the US and globally became a trusted partner for 50+ leading global retail chains, including Men’s Wearhouse, Jos. A. Bank, Academy Sports + Outdoors, Five Below, and GNC.
KEY QUOTES:
“We’re on a mission to build a better, more efficient, and sustainable global supply chain. We chose to invest in Invent Analytics for its innovative AI-decisioning technology and ability to accelerate retailer planning capabilities to create direct bottom-line return on investment.”
- John Seung, Managing Partner, LFX Venture Partners
“Inventory optimization is more crucial than ever, thanks to the many ways customers can browse, buy, and return goods in this omni-channel world. Many retailers still rely on historical data, assumptions, and manual processes to make inventory decisions, leading to inaccurate forecasts, out-of-stocks and unhappy customers. Our solutions leverage AI to make granular planning decisions across the supply chain, including planning, price optimization, and fulfillment. As we continue to enhance our capabilities, we remain focused on profitability, enhancing experiences, and creating loyal customers.”
- Prof. Gurhan Kok, Founder and CEO of Invent Analytics
