27th June 2016, Dublin, Ireland
Real World Retail (rwr), the Irish retail analytics start-up, today announced it has closed a €920,000 fundraising round from angel investors and Enterprise Ireland.
Real World Retail (rwr) helps retailers drive more profit and cashflow into their business by using their data to aid decision making. Real World Retail (rwr) has developed an always on Cloud based analytics solution which is already helping retail and pharmacy customers, over 600 stores, in Ireland and the UK deliver better business results.
Retail generates huge amounts of data from a number of different sources. Electronic Point of Sales Systems (EPOS) and Enterprise Resource Planning (ERP) head office reporting falls far short of retailers’ needs. To implement effective Merchandise Planning, Buying, Inventory Control and Promotions, the information needs to be collated and presented back in an easy and actionable way. The results achieved by rwr’s customers since installation have been dramatic. One retailer with 15 stores effectively put over €450,000 back into their bank account through better management of inventory whilst improving Availability.
David Vanns, Director of Operations HI Weldrick Ltd, (a pharmacy chain in England with 61 branches) said, “rwr data analytics is now a business critical tool for us. Weldricks management team are excited about the rwr data available to us in our daily decision making and while nobody can predict the future, companies that use analytics to guide decision making minimise their chances of wasting their time, using up scarce resources and falling behind better-informed competitors.”
Private investment came from Irish and UK customers and other industry experts. Enterprise Ireland provided funding through its High Potential Start Up (HPSU) program.
“We’re thrilled to have such a strong pedigree of investors who believe in our technology and its proven ability to dramatically improve business performance,” said rwr co-founder and CEO Conall Lavery. “Many of the private investors are already customers so their investment is proof that they believe other retailers can benefit from our solution.”
Founded in Dublin, Ireland in 2013, Real World Retail (rwr) provides a Decision Support Solution in the Cloud for retailers with multiple stores based on Data Analytics. At the push of a button users can get the information they need to make informed decisions to control inventory, increase sales/margins and control costs. rwr say, “we put everything that is important at the fingertips of the retailer in an easy, visual and actionable way” and is a service for retailers with a turnover between €2M to €200M.
About Enterprise Ireland
Enterprise Ireland is the government organisation responsible for the
development and growth of Irish enterprises in world markets. They work in partnership with Irish enterprises to help them start, grow, innovate and win export sales on global markets. They are the largest seed capital investor in Ireland and invest directly in start-up companies, while also being limited partners in many of the Irish-based seed and venture capital funds. Enterprise Ireland invests in approximately 95 new High Potential Start-Up companies each year and manages a portfolio of over 800 investments in client companies.
For further information, contact Laura Carey, Marketing Executive, Real World Retail, Unit 8 Fashion City, Dublin D24 EW2P, Ireland
e: firstname.lastname@example.org, t: + 353 1 427 0349.