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 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.
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,” added Ran Levitzky, General Partner at Magenta Venture Partners. “Additionally, Onebeat’s commitment to sustainability helps address global ESG challenges by enabling a more environmentally conscious solution for the retail industry.”
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 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.
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.