The leading retail and data analytics platform will use the fresh capital to accelerate its product development.
EDITED has announced an investment of $15 million from Delta-v Capital. EDITED is the provider of the world’s leading AI-driven merchandising experience platform, helping retailers improve predictability in their business by intelligently connecting data, driving insights and automating actions. With EDITED, retailers can infuse data into every strategic decision in the product life cycle.
The growth funding round was led by Delta-v Capital, with support from original investor Wavecrest Growth Partners, alongside original investor groups the ProVen VCTs and Hermes GPE. The ProVen VCTs first invested in EDITED in 2020.
“In speaking with EDITED’s customers, we heard again and again that they couldn’t imagine doing their jobs without EDITED. That type of advocacy is a clear indication of a company that has found a product-market fit. We are excited to partner with Doug and the leadership team as they capitalise on their market leadership position by further investing in growth,” said Colin Barclay, Partner at Delta-v.
The funding comes on the heels of significant momentum for EDITED. Last year, EDITED saw strong, capital-efficient growth despite difficult market conditions. The company will use the investment toward accelerating product development, investing in partnerships, and opportunistic M&A that will expand EDITED’s value proposition to customers.
“Retailers need to be able to make faster, more surgical decisions, with higher levels of predictability and confidence. With this additional funding, we can continue investing in our platform and allow merchandisers to positively impact their customer experience with powerful insights, fuelled by machine learning,” said CEO Doug Kofoid.
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Find out more about the ProVen VCTs’ annual shareholder event, which featured insights from Beringea, the investment manager, the boards of the two funds, as well as several of the companies from the portfolio
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