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Invent Analytics

Company Overview

Invent Analytics is a provider of AI-based inventory and pricing optimization solutions for retailers and FMCG companies. The company was founded in 2013 by Gurhan Kok, a former tenured faculty member at Duke University’s Fuqua School of Business. Invent Analytics is headquartered in the United States with operations globally.

Products Overview

Invent Analytics offers a suite of AI-powered retail planning solutions called Omni-AI, which includes:

  • Omni-Plan: Maximizes profitability with inventory positioning and price optimization. Includes modules for demand forecasting, replenishment optimization, allocation optimization, markdown optimization, dynamic pricing, assortment optimization, and more.

  • Omni-Fulfillment: Optimizes order orchestration to get products to omni-channel customers efficiently.

The solutions use advanced analytics and machine learning to help retailers make data-driven decisions across their supply chain and merchandising operations.

Founding Team

The company was founded by Prof. Gurhan Kok, who serves as CEO. Prior to founding Invent Analytics, Kok was a tenured faculty member at Duke University’s Fuqua School of Business. He received his Ph.D. from The Wharton School, University of Pennsylvania.

Problem and Market Fit

Invent Analytics aims to solve key challenges faced by omni-channel retailers in inventory management, pricing, and fulfillment. The company’s solutions help retailers optimize their supply chains, reduce inventory costs, minimize lost sales, and maximize profitability in an increasingly complex omni-channel retail environment.

Business Model

Invent Analytics provides its software solutions to retailers on a subscription basis. The company emphasizes a partnership approach, working closely with clients to tailor solutions to their specific needs and continuously improve system performance.

Funding and Runway

In April 2024, Invent Analytics raised $17 million in Series B funding to enhance its AI-powered retail planning solutions and expand its global footprint. Previously, in December 2022, the company raised $7.5 million in Series A funding.

Competitive Landscape

Invent Analytics competes in the retail planning and optimization software market. While specific competitors are not named, the company positions itself as offering more advanced AI and machine learning capabilities compared to traditional retail planning systems.

Customers

Invent Analytics serves over 30 retailers globally. Some of their notable customers include:

  • Academy Sports + Outdoors
  • Famous Footwear
  • Five Below
  • Tailored Brands (Men’s Wearhouse, Jos. A. Bank)
  • GNC
  • Camper
  • Fozzy Group
  • Mavi
  • Migros
  • Alfamart
  • CCC

Relevant News

  • April 30, 2024: Invent Analytics raised $17 million in Series B funding to enhance its AI-powered retail planning solutions and expand its global footprint.

  • May 17, 2024: The company was recognized as a Representative Vendor in the 2024 Gartner Market Guide for Retail Forecasting, Allocation and Replenishment Solutions.

  • May 17, 2024: Invent Analytics was named as a Representative Vendor in the 2024 Gartner Market Guide for Retail Unified Price, Promotion, and Markdown Optimization Applications — Short Life Cycle.

Classification: AI Tier 2

  1. Core AI: Create fundamental AI technologies/base models
  2. AI-Enabled: Core offerings rely on recent AI advances
  3. AI Adopters: Use AI to enhance existing products/services
  4. Non-AI: No AI in products/services

Invent Analytics’ core solutions in retail planning heavily depend on recent AI and machine learning advancements, classifying it as an AI-Enabled company.