Retail Optimization Receives Follow-On Investment
Connecticut Innovations (CI), the state's quasi-public authority responsible for technology investing and innovation development, has made a follow-on investment of $400,000 in Retail Optimization Inc. (ROI) of New Haven, Conn., through its Eli Whitney Fund. CI's investment is part of a $600,000 follow-on round also involving ROI management.
ROI has developed a software solution that is used by retailers and consumer products companies made to optimize the consumer shopping experience while maximizing financial performance. The company's proprietary Total Store Optimization software applies next-generation marketing science and predictive analytics to enable retailers and consumer packaged goods (CPG) manufacturers to determine optimal category space, location, product selection and inventory investment to maximize financial performance while improving consumer shopping experience. The goal of this software -- and ultimately of the retail channel -- is to predict demand at the storefront and use that prediction to optimize the consumer interface to the retail supply chain for best performance. By enabling retailers to effectively plan space, layout, assortment and inventory storewide, the software helps to create a more efficient operating environment for users in which inventory investment and out-of-stocks are minimized; product positioning is tailored to customer preferences; new product failures are reduced; and sales and profits are increased. ROI is led by an experienced management team that has been successful in executing similar business models in the retail industry. In 2007, Connecticut Innovations helped relocate ROI from Massachusetts to New Haven, Connecticut.
ROI has developed a software solution that is used by retailers and consumer products companies made to optimize the consumer shopping experience while maximizing financial performance. The company's proprietary Total Store Optimization software applies next-generation marketing science and predictive analytics to enable retailers and consumer packaged goods (CPG) manufacturers to determine optimal category space, location, product selection and inventory investment to maximize financial performance while improving consumer shopping experience. The goal of this software -- and ultimately of the retail channel -- is to predict demand at the storefront and use that prediction to optimize the consumer interface to the retail supply chain for best performance. By enabling retailers to effectively plan space, layout, assortment and inventory storewide, the software helps to create a more efficient operating environment for users in which inventory investment and out-of-stocks are minimized; product positioning is tailored to customer preferences; new product failures are reduced; and sales and profits are increased. ROI is led by an experienced management team that has been successful in executing similar business models in the retail industry. In 2007, Connecticut Innovations helped relocate ROI from Massachusetts to New Haven, Connecticut.