Omnichannel retail management platform Brightpearl has closed a deal to acquire inventory projection solution Inventory Planner for undisclosed terms, according to a press release on Friday (Sept. 17).
The tie-up gives Brightpearl, headquartered in Bristol, England, enhanced inventory forecasting capabilities. The move complements its retail operating system, which helps merchants quickly and seamlessly scale and automate. It’s also the first turning point in Brightpearl’s strategy to become the go-to brand for streamlining backend operations and facilitating fast growth.
Launched in Paris, France, in 2012 and with a U.S. office in Austin, Texas, Inventory Planner will operate as an individual unit of Brightpearl.
Derek O’Carroll, CEO of Brightpearl, said that Inventory Planner is now offered as a “best-in-class solution” that augments the Brightpearl matrix.
“Our deal with Inventory Planner signals the first step in our mission to give modern merchants the freedom to easily deploy commerce experiences on their own terms, with access to the very best retail technology products — empowering them to break away from jack-of-all-trades legacy systems,” O’Carroll added.
Combined, the solutions offered by both companies give retailers insight into historical sales data and the ability to connect that information to Brightpearl’s retail operating system.
Inventory Planner has 2,060 customers, of which 60% are between $1 million and $100 million in gross merchandise value (GMV). The tool offers a visual representation of trends, advanced reporting and notifications.
Inventory Planner Co-founder Oleg Smirnov said that as part of an integrated solution with Brightpearl, it can bring more value to its clients and bring “demand forecasting technology to the fast-growing merchants.”
The acquisition follows Brightpearl’s $33 million Series C funding round led by Sage, with participation from Cipio Partners, Notion Capital and Verdane.