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
"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
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.
More information: 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 (News - Alert), NetWitness, Postini,
RiskIQ, SafeBoot, Sybari Software, Uber and WebEx. Summit maintains
offices in North America and Europe and invests in companies around the
For more information, visit http://www.summitpartners.com
or follow on Twitter (News - Alert) at @SummitPartners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170912005198/en/
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