SYDNEY--(BUSINESS WIRE)--HIVERY, a leader in innovative AI-driven retail assortment strategy simulation & optimization solutions, today announced that the company has received an investment of US$30 million led by Tiger Global, a New York-based investment firm. Existing investors Blackbird Ventures, AS1 Partners and OneVentures also participated. The Series B round is part of HIVERY’s expansion strategy which looks to accelerate key hires and product development to support customer demand and international expansion beyond the US.
The financing will be used to fund HIVERY’s continual global expansion through further investment in building world-class AI products for the Retail Industry
"This new round, which includes new and existing investors, is a validation of our achievements to date and the strength of our vision,” said Jason Hosking, CEO & Co-founder of HIVERY. “This comes just months after CB Insights named us in their world Retail Tech 100 rankings. We are excited to have Tiger Global as part of our investor team. Our investors all share our vision to bring AI-driven assortment & optimization solutions to the global retail industry."
HIVERY Curate, HIVERY’s flagship product, has had a period of impressive growth, boasting 20 of the top 25 global Consumer Package (CPG) Brands as customers who are now applying Curate at the largest retailers in the world. HIVERY’s solutions allow customers to leverage Machine Learning and Operations Research methods in a simple user interface and unlock significant revenue growth.
“HIVERY’s AI-driven optimization strategies are creating a much more effective way for retailers and suppliers collaborate,” said Griffin Schroeder, Partner, Tiger Global.
“We live by our philosophy of investing in generational companies, and we are excited to continue to support HIVERY’s rapid growth with this follow-on investment” added Niki Scevak, Partner, Blackbird Ventures.
The technology engine that underpins HIVERY Curate utilises cutting-edge research in the fields of retail assortment and space design. HIVERY Curate is the world's most scientifically advanced retail assortment & space simulation tool available on the market today, generating superior results for CPG manufacturers and retailers
HIVERY is rapidly hiring and looking for to add people passionate about innovation and the future of retail. Visit HIVERY.com/careers to learn more.
About HIVERY:
HIVERY is a pioneer of next-generation hyper-local retail assortment strategy simulation & optimization solutions for consumer-packaged goods (CPG) companies and retailers globally. These proprietary machine learning and applied mathematics algorithms were co-developed with Australia's national science agency - CSIRO's Data61. HIVERY was founded on the vision that Data Has A Better Idea™ - and we’re working together with our clients to uncover its full potential.
About Tiger Global:
Tiger Global is an investment firm focused on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global’s venture business has invested in hundreds of companies ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global’s investments have included Stripe, Shein, Bytedance, Meta (formerly Facebook), LinkedIn, Spotify, Flipkart, and Toast.