Reflexis to Accelerate Growth with Great Hill Investment
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BOSTON — Monday, April 3, 2017 — Reflexis, the leader in retail real-time execution and workforce management solutions, announced today that it has received a minority equity investment from Great Hill Partners, a Boston-based private equity firm focused on partnering with rapidly growing technology companies. Reflexis’ existing leadership team will use proceeds from the financing to further strengthen its technology offerings and solidify Reflexis’ position as a market leader.
Founded in 2001, Reflexis provides real-time store execution and workforce management solutions that enable retailers to drive excellence in their corporate, store, and vendor operations, improve compliance and profitability, and provide a higher quality of associate engagement with today’s increasingly demanding and knowledgeable shoppers. Customers include companies in the retail, hospitality, and quick service restaurant sectors such as The Home Depot, Staples, Dick’s Sporting Goods, CVS, McDonald’s, Fresenius Medical, and more than 230 others across five continents.
“Retailers are recrafting operating models to meet shifting customer demands. Our best-in-class software platform provides the underpinning technology to introduce flexibility in execution and enterprise-wide alignment,” said Prashanth Palakurthi, founder and CEO of Reflexis. “Continuing to exceed our clients’ expectations and deliver the innovative technology that they have come to expect from us requires investment in our employees and technology,” he explained. “We believe that Great Hill and our existing investor, Sageview Capital, are the ideal partners to help support and accelerate our growth. Given the rapid expansion that we have experienced in the last few years, our team looks forward to leveraging the proceeds from this investment to continue to build on Reflexis’ strong momentum.”
“We are excited to support Prashanth and his team as Reflexis expands its role as a leader in providing workforce management software to enhance employee productivity and improve retail consumer experience,” noted Chris Busby, Partner, Great Hill Partners. “After conducting extensive research with its customers and leadership team, we are impressed by Reflexis’ exemplary reputation in the marketplace and have the utmost confidence in the future of the company,” he continued.
“The progress Reflexis has made over the last few years has been tremendous” added Jeff Klemens, partner at Sageview Capital. “We are excited to partner with Great Hill to accelerate the company’s momentum”.
Raymond James & Associates acted as the senior financial advisor to Reflexis Systems. Madison Park Group provided additional support.
Based in Dedham, MA, Reflexis is the pioneer in real-time store execution and workforce management solutions that enable retailers to execute their customer engagement strategy flawlessly and uncover profit. The Reflexis platform of real-time store execution, task management, compliance, time and attendance, and labor scheduling (including budgeting, forecasting, and employee self-service) enables retailers to align store labor and activities to corporate goals and institutionalize best-practice response to real-time metrics and alerts.
For the past 15 years, more than 230 customers in multiple vertical categories such as retail, hospitality, and restaurants have reported dramatic improvements in compliance with corporate strategies; higher productivity of corporate, field, and store employees; and increased revenue and profitability after implementing Reflexis’ workforce management and real-time execution solutions.
For more information, visit www.reflexisinc.com.
About Great Hill Partners
Great Hill Partners is a private equity firm that has raised over $5 billion in commitments since inception to finance the expansion, recapitalization, or acquisition of companies in a wide range of sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, eCommerce, and internet infrastructure. Great Hill targets investments of $25 million to $200 million. For more information, please visit www.greathillpartners.com.
Mary Kate Bertke, Investor Relations