Relex Solutions adds $200 million in a minority investment commitment made by TCV.
Relex Solutions, a Helsinki, Finland-based provider of unified retail planning solutions, announced the completion of a $200 million minority investment commitment to the company.
The funding was supported by TCV, an American provider of capital to growth-stage private and public companies in the technology industry.
Relex, founded in 2005 by CEO Mikko Kärkkäinen, Johanna Småros and Michael Falck, provides an end-to-end retail planning solution enabling companies to improve their competitiveness through accurate forecasting and replenishment, localized assortments, profitable use of space and optimized workforce planning. The company works with brands across the globe including Coop Denmark, Franprix, MediaMarkt, Morrisons, PartyCity, Rossmann, Waitrose, and WHSmith.
The founders will stay in their senior management roles, remain significant shareholders and will continue to set the strategy and direction for the Company. Relex’s existing investor Summit Partners will retain an equity stake in the business and will continue to hold a seat on the board of directors. Summit acquired shares in the company in 2017.