RELEX Solutions accelerates growth with more investment funding from Summit Partners.
RELEX Solutions, a Helsinki, Finland-based company providing 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.
The money will be used to support the company’s continued growth while the company's founders continue to serve in a senior leadership capacity and remain majority owners of the company.
Relex, founded in 2005 by CEO Mikko Kärkkäinen, Johanna Småros and Michael Falck, develops in-memory-based supply chain software to retailers, wholesalers and manufacturers. Relex’s platform leverages proprietary in-memory computing technology that supports the analysis of large volumes of transactional data and statistical modeling to more accurately predict demand and optimal levels of inventory.
Prior to this transaction, Relex raised €20M in a minority investment made by Summit Partners in 2015. Since then the company 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.