Celect raises $10M led by Activant Capital to build on strong revenue growth in 2016

Funding will fuel continued revenue growth and development of the company’s predictive analytics and optimization platform.

Boston, MA – February 28, 2017 -- Celect, a market leader in predictive analytics and inventory optimization for retailers, announced today that it has closed $10M in Series B funding. Led by Activant Capital with participation from Fung Capital and August Capital, the funding will be used to extend momentum built in 2016 after closing the year with 2.5x revenue growth. In addition, Celect will accelerate product development to support growing customer demand and aggressively cultivating sales pipeline to seize on the current market opportunity.

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Celect Convenes Predictive Analytics Forum for Retailers

An intimate event for best in class retailers to discuss the adoption of advanced analytics.

Boston, MA – December 13, 2016 -- Celect, a market leader in predictive analytics and inventory optimization for retailers, convened its first executive level event dedicated to the rise of predictive analytics in retail. Retail’s Predictive Analytics Forum was held in New York City on December 8, 2016, bringing together over 50 leading retailers to discuss the impact of advanced analytics on the merchandising, planning, and allocation process, while sharing best practices and experiences. 

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Celect partners with Current, powered by GE

Smart Outcomes for Enterprises, Cities Grow as Current, powered by GE Expands Digital App Catalog

Boston, MA – June 14, 2016 -- To broaden business outcomes and use cases, Current, powered by GE (NYSE: GE), continues to grow its Intelligent Environments App catalog. Six new partners join the company’s expanding digital ecosystem, pairing sensors and software with Current’s energy-centric infrastructure and GE’s Predix cloud platform to drive new learnings and outcomes for commercial and municipal customers.

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Timing is Everything

Boston, MA - May 16, 2016 -- 2015 was a big year in the growth and development of Celect, across all dimensions – our customer base, our partner community, our product, our team, and the market opportunity we see in front of us. With each of these elements coming together, 2016 promises to be no less exciting.

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Urban Outfitters, Inc. Chooses Celect to Optimize In-Store Assortments

Celect Partners with Urban Outfitters, Inc.

Boston, MA – March 22, 2016 -- Celect, a market leader in predictive analytics and choice modeling for retailers, today announced the addition of Urban Outfitters, Inc. (NASDAQ:URBN) to the company’s growing list of customers. 

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Celect Announces Four New Advisory Board Members

New Advisory Board members bring unique experience to expand the usage of predictive analytics in the retail market.

Boston, MA – December 1, 2015 -- Celect, a market leader in predictive analytics and choice modeling for retailers, today announced the addition of four members to the company’s Advisory Board. This move supports the company’s plans to aggressively expand its innovative predictive analytics platform in the retail market.

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Celect Announces Strategic Investment and Technology Development Agreement with In-Q-Tel

Strategic partnership to bring scientific breakthrough in choice modeling to the U.S. Intelligence Community.

Boston, MA – September 2, 2015 -- Celect, a market leader in predictive analytics and choice modeling for retailers, today announced a strategic partnership with In-Q-Tel, the investment organization that identifies innovative technology solutions to support the missions of the U.S. Intelligence Community.

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What buyers want

MIT News - July 10, 2015

U.S. retail chains often rely on intuition in choosing which products, from a vast inventory, will sell best at stores across the nation. Now MIT spinout Celect is refining this process with novel data analytics, revealing interesting insights into how retailers can optimize their shelf space.

Co-founded by MIT professors Vivek Farias and Devavrat Shah, Celect develops software that crunches a store’s sales and inventory data — and, sometimes, online buying data — to determine which products local customers want to buy.

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MIT-Founded Celect Secures $5 Million in Series A Funding

Financing, led by August Capital with participation from Activant Capital Group, will be used to expand team, open new Boston headquarters and further promote Celect’s breakthrough choice modeling technology. 

Boston, MA  June 25, 2015 -- Celect, a fully data-driven customer choice modeling suite, launched today with $5 million in Series A funding led by August Capital with participation from Activant Capital Group.

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The hat whisperers: This Boston startup tracks shopper’s habits to help brick-and-mortar stores make sales

The Boston Globe - June 25, 2015

In suburban Michigan, a gaggle of church-going ladies are cooing over the new selection of formal hats at their local Bon-Ton department store. And at the chain’s store in Lancaster, Pennsylvania, women who love handbags now can snag Michael Kors purses.

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