COLUMBUS (Dec. 13, 2016) – Nexosis, a machine learning company that provides retailers with a next generation platform for forecasting and impact analysis, has closed its latest round of funding. Revel Partners led the round and was joined by Techstars Ventures and iNovia Capital.
"Revel is excited to partner with Nexosis, a strong emerging technology leader in the artificial intelligence space. We’re really excited to introduce them to our network of talent and business leaders to help drive the Nexosis business plan," said John Vincent, General Partner at Revel Partners.
Nexosis’ automated machine-learning platform, Axon®, provides retailers with powerful, yet intuitive, forecasting and impact analysis that goes beyond business rules and logic. The Axon® platform rapidly ingests retailers’ historical POS data with multiple outside sources, such as weather and holidays, to unlock the true drivers impacting sales so they can optimize inventory and promotional planning.
The funding will allow Nexosis to rapidly expand their engineering, sales, and services teams to match the enthusiastic interest they're receiving from clients. Additionally, this growth will give additional room to innovate and develop new cutting edge business and technology solutions.
"In practical terms, Revel and the other investment partners have given us the fuel we needed to advance our mission of democratizing machine learning," said Ryan Sevey, Nexosis CEO/Co-founder.
"The real win for us is that we can continue to do what we set out to do but now have the combined knowledge and experience of a network of people who are not just financially invested in our success but have done this before," said Sevey.
Nexosis' funding round comes after early successes with several marquee customers, including National Bottling Company (Pepsi), several Wendy’s franchisees, and immediately after the company’s time in Minneapolis at Techstars + Target Retail Accelerator where it launched a direct integration beta for multiple eCommerce stores.
Launched in 2015 by Ryan Sevey and Jason Montgomery, Columbus, Ohio based Nexosis seeks to enable eCommerce stores, restaurants, consumer packaged goods and retailers to unlock their data and solve their most pressing supply chain questions. Nexosis’ automated machine learning platform provides forecasting and impact analysis to uncover answers locked in data too complex for humans.