Onebeat Enables Retailers to Modernize Their Supply Chains in Real-Time, Saving Valuable Time, Resources & Money, Resulting in Greater Inventory Visibility & Profitability.
Tel-Aviv, Israel & New York, NY – June 7, 2023 – Onebeat, a leading AI-enabled retail-tech company, secures $10M in additional funding to continue to expand its highly-adaptive retail platform, business operations and new business growth plans. Magenta Venture Partners led the Series B financing round and was joined by existing and new investors AnD Ventures, INcapital Ventures, J-Ventures, Surround Ventures and Wilson’s Bird Capital.
“We are thrilled to have a group of investors, led by Magenta Venture Partners, that are just as passionate as we are about the business and our future,” said Dr. Yishai Ashlag, Co-Founder & CEO of Onebeat. “We remain true to our mission of helping retailers, large and small, succeed by providing them with innovative tools and insights that enable them to make more informed, better business decisions and meet customer demand day in and day out.”
Onebeat Secures $10M in Series B Funding to Modernize Retail Supply Chains
Onebeat is rapidly transforming today’s legacy SCM solutions and the costly consulting services often associated with it through its more modern, AI-enabled solution that offers greater flexibility and inventory visibility as well as a more affordable SaaS model, which is especially relevant for today’s mid-market retailers looking to cut costs and expand margins.
How Onebeat Helps Retailers Improve Inventory Visibility and Profitability
For example, implementing Onebeats’ solution has been shown to increase retailers’ net margins by over 40%, on average, and deliver immediate savings and return on investment to customers in year one, providing a significant competitive advantage in the retail industry. The company also replaces expensive traditional software providers and costly data analysis services from today’s Big Tech providers.
With Onebeat, retailers can optimize their operations, reduce waste, and improve their bottom line, all while providing a better shopping experience for customers. Additionally, Onebeat’s commitment to sustainability helps address global ESG challenges by enabling a more environmentally conscious solution for the retail industry.
–Ran Levitzky, General Partner at Magenta Venture Partners
The Business Impact of Onebeat’s AI Retail Platform
During the last twelve months, Onebeat has more than doubled its client base, partnering with over 170 retailers across 26 countries and various retail sectors, including fashion, footwear, jewelry, pharmacy and beverage, among others. In addition, the company works with some of the world’s foremost, well-respected global retail leaders, such as Calvin Klein, American Eagle, Crocs and the retail division of TATA Group, just to name a few.
Onebeat’s Global Retail Growth and Customer Expansion
Onebeat’s impressive growth is attributed to:
- Its leadership team and 30+ years of experience in retail and supply chain management,
- Focus on AI for improving daily inventory and merchandise decisions, and
- Simplifying data integrations while increasing data integrity across disparate systems.
What Is Driving Onebeat’s Rapid Growth
Founded in 2018 by Dr. Yishai Ashlag and Avihai Shnabel, Onebeat spun out from Goldratt Consulting, an internationally acclaimed practice known for its supply chain expertise and the creator of the Theory of Constraints (TOC). TOC is a management philosophy introduced by Dr. Eliyahu M. Goldratt in his 1984 book titled The Goal, that is geared to help organizations continually achieve their goals.
FAQs
How is AI improving retail supply chain management?
AI helps retailers improve supply chain management by using real-time demand data to guide inventory allocation, replenishment, and forecasting decisions. Retailers can reduce excess inventory, improve product availability, and respond faster to demand changes across stores and channels. AI-driven inventory optimization also helps retailers improve operational efficiency without increasing inventory investment.
Why are retailers investing in AI-driven inventory optimization?
Retailers are investing in AI-driven inventory optimization to improve sell-through, reduce markdowns, and gain better visibility across the supply chain. Traditional forecasting models often struggle to keep up with rapid shifts in customer demand. Real-time inventory execution allows retailers to make faster decisions and maintain healthier inventory levels across locations.
What challenges do modern retail supply chains face?
Modern retail supply chains face challenges including demand volatility, excess inventory, fulfillment complexity, and rising operational costs. Retailers are increasingly using AI and real-time analytics to improve inventory accuracy, support omnichannel fulfillment, and make more responsive supply chain decisions. These technologies help retailers improve agility while protecting margins and customer experience.
