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– Invent Analytics raises $17 million to help retailers maximize profits with supply chain AI and expand platform footprint
PHILADELPHIA, April 30, 2024 /PRNewswire/ — Invent Analytics, an award-winning global provider of retail planning solutions, today announced that it has raised $17 million in Series B financing. The investment round is led by LFX Venture Partners, in partnership with existing investors European Bank for Reconstruction and Development (EBRD) and Collective Spark. Invent Analytics is helping leading brands maximize their profits by leveraging its AI-powered SaaS solutions for demand forecasting, inventory planning, replenishment, allocation, returns positioning and pricing.
LFX Venture Partners is a supply chain-focused investor with over 15 years of experience investing in technology-driven solutions designed to address longstanding problems within the global supply chain.
Invent Analytics will use the funds to:
John Seung, Managing Partner at LFX Venture Partners, said: “We are 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 decision-making technology and its ability to accelerate retailers’ planning capabilities to create a direct return on investment.
Founded in 2013, Invent Analytics has offices in the United States and globally has become a trusted partner for more than 50 leading global retail chains, including Men’s Wearhouse, Jos. A. Bank, Academy Sports Outdoors, Five Below and GNC. In particular, Invent Analytics’ successful partnerships with its clients have been highlighted in several awards, including Women in the Supply Chain and RIS’ Top Movers and Shakers in Retail. Additionally, the company received the “Returns Management Innovation of the Year” award at the RetailTech Breakthrough Awards 2024 for its returns positioning solution to optimize the returns process for greater speed, efficiency and profitability.
Professor Gurhan Kok, Founder and CEO of Invent Analytics, said: “Inventory optimization is more crucial than ever, thanks to the many ways customers can search, purchase and return products in this omnichannel world. Many retailers still They rely on historical data, assumptions, and manual processes to make inventory decisions, resulting in inaccurate forecasts, out-of-stocks, and unhappy customers. Our solutions leverage artificial intelligence to make granular planning decisions across the entire supply chain, including the supply chain. planning, pricing optimization and fulfillment. We continue to improve our capabilities, remain focused on profitability, improving experiences and creating loyal customers.”
Press images: https://bit.ly/4aLwbM0
About Invent AnalyticsInvent Analytics (inventanalytics.com), a global provider of retail planning solutions that helps leading retailers accelerate their omni-aware forecasting, allocation, replenishment and demand reduction capabilities using its intelligence-driven software artificial that leverages financial profit optimization modeling.
About LFX Venture PartnersLFX (lfxvp.com) is a venture capital fund focused on investing in disruptive technologies and new business models that shape the future of global value chains. By leveraging partners’ domain expertise and global scale, LFX delivers capital, operational knowledge, data insights and network access to its portfolio companies.
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