PHILADELPHIA, April 30,
2024 /PRNewswire/ -- Invent Analytics, an
award-winning global retail planning solutions provider, announced
today that it has secured $17 million
in Series B funding. 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 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 in investing in technology-driven
solutions that are designed to address age-old problems within the
global supply chain.
Invent Analytics will use the funding to:
- Enhance capabilities of its AI-platform
- Continue to innovate for rising expectations
in omni-channel retail
- Strengthen strategic partnerships
- Broaden its team of retail experts
John Seung, Managing Partner, LFX
Venture Partners, said, "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."
Founded in 2013, Invent Analytics has offices in the US and
globally has become a trusted partner for over 50 leading global
retail chains – including Men's Wearhouse, Jos. A. Bank, Academy
Sports + Outdoors, Five Below, and GNC. Notably, Invent Analytics'
successful partnerships with its customers have been highlighted in
several award wins, including Women in the Supply Chain and RIS'
Top Movers and Shakers in Retail. Additionally, the company was
awarded "Return Management Innovation of the Year" in the 2024
RetailTech Breakthrough Awards for its Returns Positioning
solution to optimize the returns process for greater speed,
efficiency, and profitability.
Prof. Gurhan Kok, Founder and CEO
of Invent Analytics, said, "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."
Press images: https://bit.ly/4aLwbM0
About Invent Analytics
Invent Analytics
(inventanalytics.com) a global retail planning solutions provider
that helps leading retailers accelerate their omni-aware demand
forecasting, allocation, replenishment, and markdown capabilities
by using its AI-powered software that leverage financial profit
optimization modeling.
About LFX Venture Partners
LFX (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 the domain expertise and global
scale of partners, LFX offers capital, operational knowledge, data
insights, and network access to its portfolio companies.
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SOURCE Invent Analytics