This news comes on the heels of its growth equity funding round. RELEX Solutions plans to use the funding to support its sustainability initiatives and enhance its operational efficiency. Here are the top-line bullets you need to know.
RELEX Solutions, an AI-powered supply chain automation and optimization platform, has raised $568.4M in growth equity funding from Blackstone.
How’s the company performing?
- Finland-based RELEX Solutions helps companies automate supply chain management, merchandising, demand planning, and retail operations in order to prevent overproduction and waste.
- The company almost doubled its software revenue bookings in 2021.
- Last year, the company’s customer count surpassed 350 — M&S Food, PetSmart, Morrisons, Dollar Tree, Franprix, Rossmann, and Sephora are included among its client base.
- RELEX Solutions is currently supported by a global team of more than 1,300 employees.
- It has offices in Germany, Italy, Spain, France, Portugal, Singapore, Australia, and Finland, among other countries.
Source: RELEX Solutions
Why does the market matter?
- The global artificial intelligence in supply chain market is expected to reach a value of $21.8B by 2027, growing at a CAGR of 45.3%, according to Meticulous Research.
- Advancements in AI, big data, and analytics technologies are contributing to market growth.
- Solutions designed to help businesses manage operations amid pandemic-induced supply chain disruption are seeing a boom in demand.
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