Logile, a New York-based retail labor planning, workforce management, inventory management, and store execution provider, announced that it closed a Series A funding.
The investment was from Sixth Street Growth, the growth investing business of leading global investment firm Sixth Street.
The new partnership with Sixth Street is aimed at accelerating the company’s market and vertical expansion, growing the team and further fueling the development and enhancement of the company's client solutions.
“Logile’s mission is to help retailers run great stores,” said Purna Mishra, Logile’s Founder, and CEO. “We began with our industry-leading labor planning and workforce management solution and have added many innovations to respond to the changing retail environment. Logile has historically operated as a bootstrapped organization, and it’s been very satisfying to guide Logile to its place as the leading provider of store planning solutions. Now is the right time to partner with an organization that believes in our vision. Teaming up with an organization of Sixth Street’s experience and expertise will allow us to bring Logile’s singular vision of store planning and execution to retailers across the globe. We will focus on expanding our sales and marketing efforts and continuing to expand and improve our solutions to ensure Logile remains on top of the RIS Software LeaderBoard rankings, where we’ve placed since 2015.”
Logile’s all-in-one forecasting, labor, and inventory management platform provides highly accurate forecasting integrated with a store-level solution for planning, scheduling, optimization, and execution.
The company’s solutions allow retailers to optimize the largest controllable store expenses, labor, and inventory, by assuring that they always have the right employee in the right place at the right time, and the right inventory on the shelf at the right price at all times.
Company: Logile, Inc.
Raised: Undisclosed
Round: Series A
Funding Month: February 2023
Lead Investors: Sixth Street Growth
Additional Investors:
Company Website: https://www.logile.com/
Software Category: AI-Driven Workforce and Inventory Management
About the Company: Founded in 2005, Logile is a retail labor planning, workforce management, inventory management, and store execution solution, combining best practices consulting with planning and execution software that enables retailers to maximize efficiency, customer service, employee satisfaction, and profitability. It is deployed in thousands of retail locations across North America, Europe, Asia, Australia, and Oceania. Its proven AI, machine-learning technology, and industrial engineering accelerate ROI and enable operational excellence with improved performance and empowered employees.
Source: https://www.logile.com/press/logile-announces-the-closing-of-series-a-investment-from-sixth-street-growth/