Celect, a market leader in predictive analytics and inventory optimization for retailers, announced today that it has closed $10M in Series B funding. Led by Activant Capital with participation from Fung Capital and August Capital, the funding will be used to extend momentum built in 2016 after closing the year with 2.5x revenue growth. In addition, Celect will accelerate product development to support growing customer demand and aggressively cultivating sales pipeline to seize on the current market opportunity.
Launched in 2013 with an MIT technology breakthrough in machine learning, Celect helps retailers optimize omnichannel inventory portfolios in stores, online, and across their supply chain. With increasing pressures on the retail industry to perform, Celect is providing retailers a way to significantly boost in-store revenues and inventory turns across channels... READ MORE