New Portfolio Company: Profitect
PALO ALTO, CA – (Marketwire – November 14, 2016) – Vertical Venture Partners (VVP), a venture capital firm with deep Silicon Valley roots and an exclusive focus on companies that target specific vertical industries, announced today an investment in Profitect.
Profitect is a turnkey SaaS application that provides retailers with prescriptive analytics for various aspects of their business. Profitect has modules for Sales, Inventory, Logistics, Marketing and Warehousing. Target customers include traditional bricks and mortar retailers such as Macys, Walgreens and Sally Beauty. Profitect has more than 25 customers and has recently begun to expand internationally.
David Schwab, VVP Managing Director, will join the Profitect Board. “The movement of BI from simple reports to prescriptive analytics is a major force in the industry”, states Schwab. “We have identified Profitect as one of the most disruptive cloud-based BI solutions on the market with true expertise in solving business intelligence problems for retailers. With their early traction and deep industry knowledge, we are confident in their efforts and our expertise to help them navigate this period of growth.”
The Profitect management team is an experienced one with a solid track record of building applications focused on the retail industry. Profitect executives have held senior management positions at companies including Demantra, Oracle, Retalix and Sears. The company is headquartered in Waltham, Mass.
“Large retailers understand the concept of prescriptive analytics. They have been inundated with basic reports which often number in the hundreds; 75% of which are never even reviewed. Our application mines their data, finds opportunities for business improvement and assigns action items to store managers or regional managers, all automatically,” said Guy Yehiav, CEO at Profitect. “Our expertise in providing these analytics in addition to constant availability, high-performance and robust security will serve us well as we expand into international markets”
About Vertical Venture Partners
Vertical Venture Partners is a venture capital firm focused on investments in companies that target specific vertical markets. Some vertical markets of interest include Retail, Healthcare, Transportation, Insurance, Financial Services and Telecommunications. Some technology areas of interest include: analytical applications, cloud applications, mobile, vertical CRM, cyber-security and software infrastructure. Vertical Venture Partners will invest at any stage of a company’s growth and can help companies accelerate their business. For more information, interested parties may contact VVP at info@verticalventurepartners.com.
CONTACT INFORMATION
Media Contact:
Doreen Thawley
doreen@verticalventurepartnes.com