Sonae IM invests in Nextail, that has raised $10M to empower retailers with smart inventory decisions
Nextail, the fast-growing tech company that brings artificial intelligence into retailers’ inventory planning and merchandising decisions, has today announced that it has closed $10M in new funding.
The Series A round was led by London and Amsterdam based venture capital firm KEEN Venture Partners LLP (“KEEN”), together with Sonae Investment Management (“Sonae IM”) and existing investor Nauta Capital. The new financing is being used to accelerate product development and double the size of the team, as it grows internationally.
Founded by Joaquín Villalba and Carlos Miragall in 2014, Nextail has developed a cloud-based platform that combines artificial intelligence and prescriptive analytics to upgrade retailers’ inventory management processes and store operations.
Nextail provides retailers with data-driven decisions and the operational excellence of fast fashion, transforming how they buy new collections and distribute products. Nextail’s clients are leading fashion and collection-based retailers including Pepe Jeans, Stefanel and Melon Fashion Group. Clients typically see value delivered within 30 days, from sales increasing between 5-10%, in-store stock coverage reduced by 30% and stockouts reduced by 60%.