Celect is a Boston, MA–based market leader in predictive analytics and inventory optimization for retailers, operating a cloud-based SaaS platform. Led by CEO John Andrews, its platform enables retailers and brands to predict future buying patterns both online and in-store to inform merchandising, allocation and fulfillment decisions. The technology allows retailers to optimize overall inventory portfolios in stores and across the supply chain. Clients include the ALDO Group, Lucky Brand, Neiman Marcus, Polo and Urban Outfitters. The company will use the $15M Series C financing to expand its engineering and sales teams, further enhance its patented technology solutions and grow its market share. As part of the financing, two investors joined Celect’s board. Celect offers a cloud-based platform that leverages machine learning to help retailers optimize omnichannel inventory portfolios across stores, online channels and supply chains. The platform provides a granular view of how customers choose between products and how products interact with each other. Celect targets retailers aiming to improve inventory allocation and merchandising decisions. The company was launched in 2013 and is led by CEO John Andrews. It plans to use new funding to accelerate product development and expand its customer base. Celect recently closed a $10M Series B financing. Celect is a Boston-based company that provides a data-driven customer choice modeling suite for retailers, using machine learning to analyze buying patterns. Its technology helps merchandisers, retail planners and inventory analysts create optimized, localized product assortments. The product aims to increase inventory turnover and revenue while improving customer experience. Celect was founded by MIT professors Vivek Farias and Devavrat Shah. The company launched with a $5M Series A and plans to use the funding to grow its management and development teams. It also intends to open expanded headquarters in Boston’s Innovation District.

Total raised

$30M

Funding rounds

3

Latest round

Series C

Latest activity

Dec 2018