HELSINKI--(BUSINESS WIRE)--RELEX Solutions, a provider of unified supply chain and retail planning solutions, today announced that funds managed by Blackstone Growth (“Blackstone”), Blackstone’s growth equity investing business, and TCV, a leading investment firm focused on investing in global, category-defining, technology companies, have increased their investment in RELEX. The transaction represents an exit for original RELEX investor Summit Partners, which initially invested in the company in 2015. Blackstone and TCV first invested in RELEX in 2022 and 2019, respectively.
“We've been proud to support RELEX's continued innovation and global expansion over nearly a decade of partnership,” said Steffan K. Peyer, a Managing Director at Summit Partners, who has served on the RELEX Board of Directors since 2015. “At the time of our investment, RELEX was one of the very few disruptive vendors leveraging leading-edge technologies and machine learning to process huge volumes of data to help drive better real-time outcomes in the retail supply chain. Today, against a backdrop of channel proliferation and ever-evolving consumer expectations, RELEX's solutions continue to resonate with customers worldwide.”
Blackstone and TCV’s additional investment underscores their conviction in RELEX’s growth trajectory, and reaffirms their commitment to supporting the company’s strategy, which includes expanding its addressable market into the consumer packaged goods (CPG) and manufacturing sectors, following the acquisition of Optimity earlier this year.
As reported in August, RELEX continues to deliver impressive growth, with reported subscription revenue increasing 37% year-over-year (YoY), and total revenue growth of 35% YoY, during the first half of 2024. RELEX also benefitted from continued customer growth across all sectors, with new and expanded customer signings across the globe, as a variety of retailers and consumer goods companies recognize the inherent value in RELEX’s planning solutions.
“We are deeply grateful to Summit Partners for their decade-long commitment to RELEX. The firm’s support of our vision and strategy has been instrumental in our transformation and growth into new markets and new regions," said Mikko Kärkkäinen, Group CEO and Co-founder of RELEX Solutions. “As we look ahead to the next chapter, we are thrilled to have Blackstone and TCV reinvest in RELEX. Their support will enable us to further expand our addressable market, strengthen our product offerings, and deliver even greater value to our customers worldwide. Our partnership is based on a shared commitment to our customers and building a very happy customer-base.”
“Our increased investment in RELEX reflects our confidence in their exceptional team and their AI-driven retail and supply chain planning platform. RELEX has shown remarkable growth and resilience, and their solutions are more relevant than ever in today's dynamic market environment. We are delighted to support their journey as they continue to innovate and leverage AI to bring more value to customers, and expand their reach, particularly in the consumer packaged goods and manufacturing industries,” said John Doran, General Partner at TCV.
“RELEX has cemented its position as a leading next-generation supply chain software player globally. RELEX has an impressive track record of strong growth, successful customer implementation and exceptional customer satisfaction. We are excited to reinvest in the company and look forward to our ongoing partnership to support their continued expansion into new markets and sectors,” said Paul Morrissey, Senior Managing Director and Nicolas Dupuis, Principal at Blackstone Growth.
Financial details of the transaction are not disclosed.
About RELEX
RELEX Solutions provides a unified supply chain and retail planning platform that aligns and optimizes demand, merchandising, supply chain, operations, and production planning across the end-to-end value chain. We help retailers, manufacturers, and consumer goods companies like ADUSA, AutoZone, Coles, Dollar Tree and Family Dollar, M&S Food, PetSmart, and The Home Depot drive profitable growth across all sales and distribution channels, leading to higher product availability, increased sales, and improved sustainability. Learn more at: https://www.relexsolutions.com/customers/
