Helsinki-based unified retail planning company RELEX Solutions has secured a $200 million funding round from TCV, which purchased a minority stake in the company. The company plans to use the investment to fuel further growth and hire more people.
The Finnish company, which was founded in 2005, provides end-to-end retail planning solutions that allow for “accurate forecasting and replenishment, localised assortments, profitable use of space, and optimised workforce planning,” RELEX stated in a press release. The company lists Coop Denmark, Franprix, MediaMarkt, Morrisons, PartyCity, Rossmann, and WHSmith among its clients.
“The development of retail and supply chain planning has been held back by siloed organisations and limitations in how technologies integrate,” said RELEX’s CEO and co-founder Mikko Kärkkäinen. “Our vision is to change how the field works by driving a more responsive unified planning process. We are already off to a good start — now we will increase our speed by accelerating our product development ambitions, hiring more tech talent and investing further into the development of our organisation as well as further expanding our retail-specific machine learning and AI capabilities that complement our core data processing platform.”