UK – Edited, a London, UK-based retail ecommerce tech company leveraging AI to optimize product pricing, raised $29m in funding.
The round, which brought total raised to date to $34m, was led by Wavecrest Growth Partners and Beringea UK, with participation from Hermes. The company intends to use the funds to expand product innovation, accelerate hiring and expand its global presence. Founded by Geoff Watts and Julia Fowler in 2009, Edited provides a retail tech platform which tracks over 375 million products across apparel, beauty, and homeware sectors and 2.5 billion SKUs worldwide to allow 50,000 retail professionals across over 200 brands to optimize their buying and merchandising decisions. The platform uses A.I., analytics, and image and text recognition to understand pricing, discounts, assortments, and trends in real-time across the apparel, beauty and homeware industries. It is used every day by a variety of customers from fast-fashion to luxury industry leaders, including PUMA, Tommy Hilfiger, Diesel, Ann Taylor and the Arcadia Group. 19/04/2020
