Invent Analytics Raises $17M to Help Retailers Maximize Profits with Supply Chain AI and Expand Platform Footprint
Wednesday, May 8, 2024
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
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