RELEX Solutions, a provider of unified retail planning solutions, has secured an undisclosed amount of funding. The investor was Summit Partners.
ATLANTA, GA and HELSINKI, FINLAND — Sept 12, 2017 — RELEX Solutions, provider of unified retail planning solutions, spanning forecasting, replenishment, space and assortment, and workforce optimization, recently closed a second round of funding from global growth equity investor Summit Partners to support the company’s continued growth. RELEX founders continue to serve in a senior leadership capacity and remain majority owners of the company.
In September 2015, Summit Partners made an initial investment in RELEX, committing capital to support the global expansion of the rapidly growing supply chain solutions provider. In the last two years, RELEX has nearly tripled its revenues, entering the North American market and adding over 90 new customers worldwide including Rossmann, WHSmith, Morrisons, Coop Denmark and AO.com. During this period, the company completed the acquisition of Galleria RTS, a space and optimization software provider, and invested in Zenopt, an advanced workforce optimization solution provider. Each of these products complement RELEX’s existing solutions and position the company well to execute on its vision of delivering unified retail planning solutions that optimize core retail operations.
“Operational excellence – in merchandising, supply chain and store operations – is required for retailers to survive in today’s extremely competitive market,” said Mikko Kärkkäinen, Group CEO of RELEX Solutions. ”Unifying these core operational processes enables retailers to really step up their game. We have, for example, seen our customers reduce out-of-stocks by up to 80% and significantly decrease labor cost in stores by optimizing planograms to enable straight-to-shelf deliveries, minimizing the need for backroom storage.”
“We remain impressed by the company’s continued commitment to customer success during this period of rapid growth,” said Summit Partners Managing Director and RELEX board member, Han Sikkens. “RELEX Solutions delivers rapid, measurable ROI to customers, and we are delighted to continue our partnership with Mikko and his team for this next phase of growth.”
“We are very pleased that Summit Partners has deepened their partnership with us,” said Kärkkäinen. “Together we are working to realize our shared vision: to establish RELEX as the clear leader in the unified retail planning category.”
About RELEX Solutions
RELEX Solutions provides an integrated retail and supply chain planning system that delivers impressive results for customers around the world.
Through precise demand forecasting, automated replenishment, revolutionary space planning and assortment optimization, RELEX helps businesses plan better, sell more and waste less however fast the market changes.
Through our retail expertise and technology, we build strong, enduring, award-winning partnerships with our customers. RELEX’s success is inseparable from theirs.
RELEX Solutions is trusted by leading brands including WHSmith, Morrisons, AO.com, Coop Denmark and Rossmann, and has offices across North America and Europe.
For more information, visit www.relexsolutions.com.
About Summit Partners
Founded in 1984, Summit Partners is a growth equity firm that is currently investing more than $9.5 billion into growth equity, fixed income and public equity opportunities. Summit has invested in more than 440 companies in technology, healthcare and other growth sectors. These companies have completed more than 135 public offerings, and more than 150 have been acquired through strategic mergers and sales. Notable technology companies financed by Summit Partners include Avast, Belkin, Flow Traders, Hyperion Solutions, Infor, McAfee, NetWitness, Postini, RiskIQ, SafeBoot, Sybari Software, Uber and WebEx. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.