Formulate, a rapidly growing company in the AI and SaaS space, offers sophisticated analytics tools to retail clients. The proprietary technology enables users to optimise every phase of the campaign process, resulting in increased promotion profits and an improved customer experience.
Formulate’s owners mandated MCF to advise on the sales process and find a partner who shared their vision for the dynamic company. As a result of this successful transaction, Relex and Formulate will now provide a sophisticated platform for end-to-end planning and optimisation of complex retail operations.
Formulate is a niche Swedish technology company providing AI and SaaS-based software solutions for retail promotions and is currently used by several global multi-billion-dollar retailers. The Stockholm-based company was founded in 2016 and employs a team of c. 23 employees. The company is led by co-founder and CEO Andreas Willgert.
About the Sellers
Formulate’s shareholders are comprised of the company’s founders and a group of investors, including Industrifonden and henQ, and private investors.
Relex, the Finnish supply chain automation and optimisation platform, provides end-to-end retail planning solutions to help retailers and brands reduce waste, costs, and manual work. The company was founded by three supply chain scientists in 2005, and today employs more than 1,300 people. Relex recently raised EUR 500m from investors including Blackstone, TCV and Summit at a EUR 5bn valuation.