The market cap of Nike has exceeded past 100 billion dollars. The company is still seeking ways to improve their customer service. They recently have announced that it has acquired the Boston-area startup Celect to help Nike beef its predictive analytical strengths.
Celect is a Boston-based startup. The co-founders of the startup were professors at the MIT. Their tech focuses on delivering data insights after being fed a bunch of structured and unstructured retail data. These insights allow retailers to see cost/benefits analysis of arranging their inventory, something that might interest Nike, which banked 36.4 billion in revenue last year.
The COO of Nike, Erik Sprunk said in a press statement, “As demand for our product grows, we must be insight-driven, data-optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.”
The details of the agreement are yet to be public.
Celect raised more than 30 million from investors, including August Capital, NGP Capital and Activant Capital. The company most recently closed a 15 million series C in December of last year.
Source: Tech Crunch