Retail Data Firm EDITED Raises $29m Growth Capital

Retail data and analytics company EDITED has raised $29m in a round of funding, which it will use to boost product development, hire new staff, and expand its global presence.

Founded in London in 2009 by Geoff Watts and Julia Fowler, EDITED's platform uses artificial intelligence, machine learning, analytics, image and text recognition to understand pricing, discounts, assortments, and trends in real-time across the apparel, beauty and homeware industries. Built by data scientists and engineers, working alongside former buyers and merchandisers, the platform tracks more than 2.5 billion products worldwide, enabling brands and retailers to use real-time market data insights to inform their business strategies.

New funding has been co-led by Boston-based Wavecrest Growth Partners and Beringea UK, with participation from Hermes GPE. Commenting on the news, Watts said: 'Since we started EDITED a decade ago, the vision has always been to transform the retail industry, and this next step is AI-driven decision automation. With this new capital, we'll make even bigger strides to get there by growing our team and product capabilities so our customers can continue to succeed across all verticals especially during this current retail crisis'.

The firm, which also has offices in New York, is online at: www.edited.com .