萝莉视频

, a Finnish provider of software for retail planning, has in fresh funding from growth-stage investor .

TCV also took a minority stake in the Helsinki-based startup as part of the deal, which marked the first major investment announced by TCV since the firm revealed last week it had raised $3 billion for its new tech-focused fund, TCV X.

Follow 萝莉视频 News on

Previously, 14-year-old Relex had just , according to its 萝莉视频 profile. Relex鈥檚 existing investor will retain an equity stake in the company and will continue to hold a seat on its board.

Relex works with retailers in EMEA and North America to provide 鈥渁ccurate forecasting and replenishment, localized assortments, profitable use of retail space, and optimized workforce planning.鈥� It says it has consistently achieved 50 percent year-over-year growth with customers such as Coop Denmark, MediaMarkt, Morrisons, PartyCity, and WHSmith, among others.

鈥淭he more complex a retailer鈥檚 operations are, the more they have to gain鈥� from Relex鈥檚 offerings, says CEO . 鈥淥ur vision is to change how the field works by driving a more responsive unified planning process.鈥�

He adds that Relex鈥檚 customers typically see a 40 percent reduction in waste, a 30 percent reduction in inventory and an 85 percent decrease in out-of-stocks.

鈥淎ll of which increases sales and positively affect retailers鈥� bottom lines,鈥� says K盲rkk盲inen.

Relex plans to use its latest capital to accelerate its product development, 鈥渉ire more tech talent鈥� and further expand its retail-specific machine learning and AI capabilities.聽The company also aims to tackle the shameful dilemma of food wastage in developed countries. About 43 billion pounds of food 鈥� about 10 percent of the available supply 鈥� is lost each year as a result of inadequate forecasting and replenishment practices in food retail in the US, according to the .

鈥淭echnology like Relex鈥檚 can help food retailers prevent both food wastage and revenue loss by optimizing their retail planning,鈥� K盲rkk盲inen added.

, a UK-based general partner at TCV, notes that TCV鈥檚 strategy is to invest in tech companies it believes are focused on disrupting large industries and 鈥渂ig markets.鈥�

鈥淩elex provides a highly differentiated and modern solution that provides retailers with significant ROI in the form of inventory reduction, waste reduction, less time spent on ordering and improved stock availability,鈥� he wrote via email. 鈥淲e believe that it is addressing a huge market, and based on market feedback, is the best-in-class solution.鈥�

Illustration: