Retail analytics firm Clear Returns secures Angel Academe funding
Glasgow-based company planning US expansion in 2016
Clear Returns, a Glasgow-based retail analytics company, has announced the closure of an additional round of funding led by Angel Academe with participation from Mark and Meganne Houghton-Berry.
Founded in 2012, Clear Returns helps retailers to cut the cost of returns and improve profits by monitoring customer behaviour, product performance and marketing & services promises.
This enables the client to identify the root causes, show costs, trigger preventative responses and inform future stock buying and marketing decisions.
Clear Returns has won major retailers including Argos, The Jewellery Channel and M&Co and claims to improve net profits by £1m fro every £10m refunded.
Following a funding round in April 2013, this latest finance will be used to expand European sales and support a planned US expansion in 2016.
Vicky Brock, founder and CEO of Clear Returns, commented: “This is an exciting time for Clear Returns as investment is looking strong for 2016. The latest interest demonstrates the massive opportunity data in retail holds for the industry and how key influencers are now seeing this as a game changer, which will boost profits as customers keep more of what they buy”.
Ramona Liberoff, Angele Academe investor, added: “As a viable investment opportunity, Clear Returns ticks all the boxes, which is why we are supporting them for a second time.
“The team has delivered on its promises, provided a realistic growth trajectory and, most importantly, stuck to providing retailers with a solution that solves an important issue – in this case product returns.”