EDITED, the world leader in real-time market data and analytics for the fashion and apparel industry, announced today it has raised $4.4M from Index Ventures and new investor Frog Capital. Other existing investors also participated in the round.
EDITED is used daily by the world’s most successful and fastest growing retailers and brands, including ASOS, Gap, Gilt Groupe, Missguided, Target, Motel and many more across five continents. Using EDITED, these fashion-focused companies are improving their understanding of customers and competitors. This takes out the guesswork in setting price architecture, product assortment and positioning, thereby maximising margins and sales opportunities.
The company will use the funds to drive further hiring of key strategic positions in its London, Melbourne and recently opened New York offices. EDITED’s global expansion follows rapid demand from many of America’s most recognised fashion retail brands.
EDITED CEO, Geoff Watts said, “What we’ve created at EDITED has changed a whole industry, and with this new financing, we will accelerate our growth further. We’ll keep building our products, our infrastructure and our capabilities, so our customers can keep beating the market and achieve stellar results. I’m proud of our fantastic team and the vision we’ve all set out for the future, and this financing stands in support of their incredible work.”
Buyers and merchandisers rely on EDITED software every day to measure results, optimise pricing and reduce mistakes. As part of their product performance statistics, EDITED:
- analyses more than 50M product SKUs (stock keeping units) in retail;
- tracks more than 4 thousand global retailers’ webpages and provides day-to-day updates about all of their communications and visual outcomes; and
- provides a searchable database of more than 2,000 blogs and 600 million opinions tracked from industry inﬂuencers across social media.
EDITED’s proprietary technology translates these mountains of data into actionable insights.
Robin Klein, partner at Index Ventures, said, “EDITED’s approach to retail analytics is unique; they have a real-time view of the apparel market. By analysing large amounts of data, they can provide unequalled insights that save their clients large sums and increase their sales by directing their product and pricing strategy around items which are most wanted.”
Joe Krancki, Frog Capital, said, “There is no other company like EDITED, and the recognition they’ve received from the likes of WSJ, Bloomberg, and Forbes as the next big thing in retail technology is well-earned. The market for data-driven insights in retail has enormous growth potential, as fierce competition drives retailers to seek sophisticated technology partners to help them navigate an increasingly complex environment. Frog are delighted to join Index in backing the EDITED team as they redefine how leading fashion and apparel retailers manage their business.”
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