ATLANTA —Relex Solutions, a provider of retail planning solutions, closed a round of more than $500 million in funding, bringing the company’s valuation to $5.7 billion. The round was led by funds managed by Blackstone Growth, a growth equity investing business. Following the funding round, Relex Solutions will hire hundreds of developers and experts to grow its technical team that currently stands at more than 400 people, the company said.
Relex Solutions’ artificial intelligence (AI)-driven, cloud-based Living Retail Platform helps retailers and brands reduce waste, costs and manual work by automating and optimizing their demand planning, merchandising, supply chain and workforce planning, according to the company. In times of rapidly changing, fragmented consumer demand, new sales and fulfillment channels, and supply chain disruption, Relex Solutions helps retailers and brands find new ways to meet consumer needs while improving operational efficiency and controlling costs.
“We are proud to welcome Blackstone, with their unparalleled experience in the field, on our journey as we redouble our commitment to both technological innovation and our vision for truly unified planning,” said Mikko Kärkkäinen, group CEO and co-founder of Relex Solutions, a Helsinki, Finland-based company with U.S headquarters in Atlanta. “Consumers are changing their behavior and preferences at an unprecedented pace. With the power of smart automation and algorithms, we want to help our customers adapt their offering to their customers’ changing needs.”
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