Revionics Celebrates a Decade of Innovation, Growth & Success
Revionics, Inc., the leading provider of the industry’s most powerful End-to-End Merchandise Optimization solution, is celebrating 10 years of leadership and innovation in the retail software industry. Revionics started in Sacramento, California, just 10 years ago and has now grown into a powerful, global company with over 30,000 retail locations leveraging its cloud-based End-to-End Merchandise Optimization solution.
Growing its business faster than overall market growth, Revionics has experienced 69% Compound Annual Growth Rate (CAGR) over the last three years with an 88% revenue growth in 2011. In addition, this 10-year anniversary comes on the heels of Revionics being awarded as a Red Herring Top 100 Americas Company and a JMP Securities’ Hot 100 Software Company. Both of these prestigious awards recognize Revionics for its exceptional customer traction, revenue growth, quality of leadership and its game-changing products and services.
“In the last 10 years we have accomplished a tremendous amount, such as breakthroughs in our technology, global growth, incredible customer traction, expansion into new verticals and our recent acquisition of Retail Optimization, Inc.,” stated Jeff Smith, Revionics’ Founder and Executive Vice President of Corporate Development and Strategy. “With the current Revionics team we have set the stage for continued growth and success. I am very excited for what the future holds for us and our customers.”
The Vision: Provide the most Transparent, Cost Effective, and Easy-to-Use Solution
Revionics was the vision of Jeff Smith, the company’s Founder and Executive Vice President of Corporate Development and Strategy. Mr. Smith’s vision was to ensure Revionics brought to market next-generation optimization solutions that would appeal to a broad set of retail verticals and would have a level of usability and transparency, which allowed for all sized retailers — tier one, two and three — to take advantage of advanced predictive analytics and demand-based science technology. The third founding principle was to ensure that Revionics software solutions and services were backed by years of deep retail experience, and a long-term partnership commitment in addition to advanced retail science.
Revionics’ unique ease-of-use, transparency and speed-to-insights allows the solutions to be easily leveraged daily by any employee and creates confidence in the recommendations which accelerates adoption and ROI. Additionally, Revionics’ customer-centric, consultative and value-based approach has permeated all of their interactions with retailers over the last decade from marketing, sales through deployment and support. This approach and a focus on needing to earn a customer’s ‘renewal right’ every single day has resulted in a near 100% renewal rate.
“As one of the first Revionics customers, I am proud to be part of Revionics’ journey as my company has substantially benefited from their team’s hard work, innovation, professionalism and pure dedication,” stated Frank Cannon, General Manager of Van’s Markets. “Their price optimization solutions have enabled us to gain a strong, consistent competitive advantage and we are experiencing tremendous growth in our bottom-line — both in revenue and profit growth.”
With an exceptional team, a lot of hard work and pure innovation, Revionics has proven that they are a true industry leader. Some highlights over the last 10 years include:
– Sustainability & Growth: Since its inception the company has had only two rounds of funding due to its strong success and customer traction. The last round of funding was in 2007.
– Global Customer Portfolio: With the ability to service a broad range of retailers of all sizes — grocery, drug, building materials, convenience, general merchandise, discount, sporting goods and eCommerce — Revionics has over 30,000 retail locations and $73B in annual revenue being optimized. Today, more retailers are leveraging Revionics than any other vendor.
– Strategic Partnerships: Throughout the years, Revionics has formed very successful, strong partnerships to strengthen their offerings and capabilities.
– Product & Service Innovation: Ensuring they are in lock step with retailers’ requirements to become more shopper-centric, the company’s offerings have evolved from base price optimization to a full Life Cycle Price Optimization suite with comprehensive promotion and markdown planning and optimization modules. Now, with the recent Retail Optimization acquisition, the company has a proven End-to-End Merchandise Optimization suite that spans the entire merchandise planning process — assortment, space, price and promotion.
“Our tremendous growth, progress and success is a testament to our team’s innovation, hard work and dedication to ensuring that Revionics succeeds on every level,” said Revionics’ President and CEO, Marc Hafner. “Our partnering commitment to our customers is deep, genuine and consistent and has ensured our customers achieve long-term financial impact and ROI.”