Revenue optimisation platform Optoro has closed its latest round of funding on $75m.
Franklin Templeton acted as the lead investor, while contributions also came from Revolution Growth, Generation Investment Management, and Tenfore Holdings, among others.
Washington D.C.-headquartered Optoro uses data analytics to help retailers and manufacturers process and sell their returned and excess inventory. Its machine learning technology is able to distribute inventory to the highest value chain, while its reverse logistics system minimises and streamlines operations across the supply chain.
To help business shift their returned goods, the company’s SmartDisposition solution, which uses AI technology’, accesses 1,200 data attributes to find the supply channel which will get it the best return, taking into account the predicted selling price and cost of transporting the item.
Through this burst of equity, Optoto is hoping to accelerate the adoption of its solution by retailers and brands around the world, as well as investing into its R&D.
Franklin Templeton CFA Robert Stevenson said, “Optoro’s platform and large data set enable retailers and brands to manage the $500 billion customer returns market, and generate measurable benefits for their bottom line. With this investment Optoro can rapidly scale the platform to reach more retailers and brands.”
J.P. Morgan Securities LLC acted as sole placement agent for the transaction.
Earlier in the month, Franklin Templeton led the $3m Series A investment into Bambu, a B2B robo-advisor. The company applies robo-advisor software to financial and non-financial business software so they can provide customers with automated financial planning, saving and investing.
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