TCV Makes $200 Million Investment in Unified Retail Planning Pioneer RELEX Solutions

HELSINKI & MENLO PARK, Calif.–(BUSINESS WIRE)–RELEX Solutions, a leading provider of unified retail planning
solutions, today announced that TCV has made a $200 million minority
investment in the company. TCV is one of the largest providers of
capital to growth-stage private and public companies in the technology
industry and has backed industry-leading companies, including Airbnb,
Facebook, Netflix, Splunk, Spotify, WorldRemit and Zillow.

RELEX provides an end-to-end retail planning solution enabling companies
to improve their competitiveness through accurate forecasting and
replenishment, localized assortments, profitable use of space and
optimized workforce planning. RELEX has consistently achieved 50 percent
year on year growth and attracted leading brands across the globe
including Coop Denmark, Franprix, MediaMarkt, Morrisons, PartyCity,
Rossmann and WHSmith.

RELEX will use the funding to continue to fuel its successful growth.
The company’s three founders, Mikko Kärkkäinen, Johanna Småros and
Michael Falck, see the additional funding as a means of fulfilling their
vision of changing the world of retail planning. The founders will stay
in their senior management roles, remain significant shareholders and
will continue to set the strategy and direction for the Company. RELEX’s
existing investor Summit Partners will retain an equity stake in the
business and will continue to hold a seat on the RELEX board of
directors.

“The development of retail and supply chain planning has been held back
by siloed organizations and limitations in how technologies integrate,”
comments RELEX’s CEO Mikko Kärkkäinen. “Our vision is to change how the
field works by driving a more responsive unified planning process. We
are already off to a good start — now we will increase our speed by
accelerating our product development ambitions, hiring more tech talent
and investing further into the development of our organization as well
as further expanding our retail-specific machine learning and AI
capabilities that complement our core data processing platform.”

TCV’s General Partner John Doran says: “We seek to partner with
businesses and management teams that are poised to grow to dominate
global markets in their sectors. We are impressed by RELEX’s modern,
highly flexible and cloud-based software, as well as its exceptional
data processing performance. RELEX has very high customer satisfaction
with customers benefitting from inventory and waste reduction, improved
stock availability, more efficient goods handling and less time spent on
ordering. We are aligned with the founders’ vision for RELEX and look
forward to supporting the management team.”

“With a robust product and a keen focus on delivering ROI to customers,
RELEX has built a significant customer base across numerous retail
segments and geographies. We are thrilled to continue our partnership
with RELEX and delighted to welcome TCV,” adds Han Sikkens, a Managing
Director with Summit Partners.

About RELEX

RELEX Solutions is dedicated to helping retail businesses improve their
competitiveness through localized assortments, profitable use of retail
space, accurate forecasting and replenishment, and optimized workforce
planning. Our SaaS solutions deliver quick return on investment and can
be used independently or jointly for unified retail planning, enabling
cross-functional optimization of retail’s core processes: merchandising,
supply chain and store operations. RELEX Solutions is trusted by leading
brands including WHSmith, Morrisons, AO.com, Coop Denmark and Rossmann,
and has offices across North America and Europe. For more information
go to:
www.relexsolutions.com

About TCV

Founded in 1995, TCV provides capital to growth-stage private and public
companies in the technology industry. Since inception, TCV has invested
over $10 billion in leading technology companies and has helped guide
CEOs through more than 115 IPOs and strategic acquisitions. TCV’s
investments include Airbnb, Altiris, AxiomSL, Believe, Dollar Shave
Club, EmbanetCompass, EtQ, ExactTarget, Expedia, Facebook, Fandango,
GoDaddy, HomeAway, LinkedIn, Netflix, OSIsoft, Rent the Runway,
Sitecore, Splunk, Sportradar, Spotify, TourRadar, Varsity Tutors,
WorldRemit and Zillow. TCV is headquartered in Menlo Park, California,
with offices in New York and London. For more information about TCV,
including a complete list of TCV investments, visit https://www.tcv.com/.

Contacts

Alexandra Sevelius
Head of Marketing and Communications, RELEX
Solutions
Phone: +358 45 674 4949
Email: alexandra.sevelius@relexsolutions.com

Katja
Gagen
Head of Marketing, TCV
Phone: +1415 690 6689
Email: kgagen@tcv.com

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