In 2021, EDITED experienced a significant rise in sales and customer renewals that positioned the company for long-term success
EDITED, the global leader in Retail Intelligence and AI-driven data insights, announced a significant uplift in Software as a Solution (SaaS) revenues, HR growth, and customer growth and retention.
“Currently, EDITED can track 140 thousand transactions from brands and retailers daily in 129 countries across more than 4 billion SKUs”
In the past year, EDITED accelerated its capabilities to serve the market by adding a new Enterprise Intelligence platform to provide data insights and trend analytics for both market data and enterprise data. EDITED also introduced the EDITED Home™ suite and expanded its internal team, including hiring a new CMO. These advancements further prove EDITED’s ability to provide brands and retailers with a 360-degree view of the market and their businesses at a time when data is critical.
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Internal Expansion Advances EDITED’s Capabilities
In 2021, EDITED improved its AI-driven retail intelligence capabilities with a newly acquired platform for Enterprise Intelligence. Now, EDITED customers can access insights and automated recommendations based on critical internal data points in addition to the global market data analytics previously offered by EDITED’s Market Intelligence solution.
To support its growing customer base and improve its go-to-market capabilities, EDITED expanded its internal team by 46% in 2021 and opened new offices in Dallas and Bulgaria, in addition to its existing offices in New York and London. New hires were focused in engineering, marketing and customer support. As part of its hiring initiatives, EDITED fosters opportunities for women in technology and today 100% of the analyst team and 63% of the data science team identify as female.
Furthermore, the leadership team expanded last year as Juliana Prather joined EDITED as the company’s first-ever CMO, bringing with her three decades of retail experience. Additionally, Katerina Moumtzoglou continued as EDITED’s Group CFO. Her financial acumen and strategic knowledge of branding and retail have been critical to EDITED in its next stage of growth.
Improved Product Offerings Across Retail Verticals
EDITED’s strategic acquisition served as a catalyst for new product development within the areas of automation and semi-automation. The four main use cases within automation address exposure and product sorting, pricing, replenishment and promotions. While the exposure and pricing use cases were key 2021 accomplishments, replenishment and promotions will be major areas of focus for EDITED in 2022.
Another key component of EDITED’s growth is the speed of insights gathered by the company’s advanced SaaS platforms which deeply benefited customers. In a time where retailers and brands are rapidly enhancing their omnichannel capabilities to combat supply chain disruptions, inflationary concerns and pandemic shutdowns, up-to-date insights regarding constantly changing market conditions are invaluable.
“Currently, EDITED can track 140 thousand transactions from brands and retailers daily in 129 countries across more than 4 billion SKUs,” said Brian Tomz, chief product officer, EDITED. “We have the right team and the right expertise to help retailers and brands solve the ‘hidden problems’ they’re facing both now and in the future.”
In addition, EDITED released the EDITED Home™ suite to offer multi-line brands and retailers the same breadth of data and precision in homewares as they have across other product segments.
Customer Success and Retention Proves EDITED’s Value
As EDITED grew its teams and introduced key product updates, major retailers worldwide signed on and increased their investments in EDITED’s technology. In 2021, EDITED earned 35% ARR growth, its highest sales year on record, while also achieving 100% customer retention.
“EDITED helps us make business decisions based on real-time information and gives us the ability to react more quickly,” said Marta Setien, Director of Pricing, MANGO. “This speed and responsiveness have been key to gaining 900,000 new online customers. We now have about six million active eCommerce customers, and our online gross revenue grew almost 50%.”
“EDITED has a strong competitive advantage because our solutions have access to more than 10 years of precise, detailed market data along with sophisticated AI models,” said Joe Aleardi, chief revenue officer, EDITED. “The ability to access and strategically use both external market and internal company data sets EDITED apart. For that reason, there is no true competitor to EDITED.”