Supply chain automation and optimisation platform Relex Solutions has secured €500 million in a new funding round led by New York-based Blackstone Growth. The new funding will allow the company to embark upon an aggressive recruitment campaign that aims to add hundreds more developers to its existing 400+ member team. To date, Relex Solutions has raised a total of €700 million.
The Finnish company, which was founded in 2005 by three supply chain scientists: Johanna Småros, Mikko Kärkkäinen, and Michael Falck, provides end-to-end retail planning solutions all aimed at helping retailers and brands reduce waste, costs, and manual operations by automation and optimising any number of mission-critical functions.
By employing Relex’s Living Retail Platform retailers are afforded AI at all stages of the business, resulting in unparalleled speed, adaptability, and accuracy. The service can optimise demand forecasting and automate the replenishment processes with pinpoint accuracy., ultimately maximising supply chain visibilities. Needless to say, it's the last part of this offer that has become rather crucial as of late.
And speaking to those supply chain woes, for the 1,3000 employees at Relex, 2021 was a bumper year. The firm saw its customer base blossoming to over 350 top brands including Dollar Tree, M&S Food, Flink, Morrisons, PetSmart, Sephora, and Rossmann.
"Our customers value technology that enables them to respond quickly to external disruptions and drive rapid innovations in sales and fulfillment channels, product offering, and store formats without missing a beat in their supply chain, merchandising, and operational planning,” said CEO and co-founder Mikko Kärkkäinen.
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