Toolio, a NYC-based provider of a cloud-based merchandise planning platform for retail, raised $10.3m in Series A funding.
The round, which brought total capital raised to $10.3m, was led by Jump Capital with participation from Rho Capital’s Ignition Fund and existing investors including Founder Collective, Notation Capital, and Max Ventures.
The company intends to use the funds to grow the team, deepen the platform’s functionality, and expand its ecosystem of integrations.
Led by CEO Eytan Daniyalzade, Toolio provides a cloud-based merchandising and inventory planning platform for retailers like Chubbies, Mack Weldon, and Rothy’s, to make sure they have the right products at the right place, time and price. The planning platform integrates to the commerce tech stack, automates critical workflows, and leverages advanced forecasting analytics which enables retailers to gain visibility and quickly respond to changes in demand leveraging real time data. This helps retailers save time, improve collaboration in the planning process, and forecast accurately, leading to reduced out of stocks, improved margins and faster inventory turns.