REM People, an Istanbul, Turkey-based company that focused on delivering “retail technologies & field audit services” to all sizes of companies that have physical sales operations in markets, stores, restaurants, and any type of point of sales, raised $12 million in funding.
The investment was from the US-based project and finance company Ethos Asset Management.
The funds will be used to expand REM People's international network to 24 offices and to reward employees with bonuses, with the eventual goal of sharing 10% of company shares with their employees by implementing an employee stock option program (ESOP).
Bulent Peker, co-founder and CEO of REM People, commented, “This is another important milestone in a journey that began in 2015. We intend to accelerate the scaling of our AI-based technology by investing these funds in R&D, international expansion, new products, as well as helping to establish a marketplace providing one-stop retail analytics services. I’m also delighted that this is only the first leg of a long-term global partnership and expect to announce further investment rounds in the coming months.”
Servicing over 50 countries from three regional offices in Dubai, London, and Istanbul, REM People works with 120 brands and retailers, each of which is a leader in its sector.
REM People provides cutting-edge AI-based technology combined with live, state-of-the-art business intelligence tools that create actionable insights for all user levels.
Company: REM People
Funding Month: January 2023
Lead Investors: Ethos Asset Management
Company Website: https://www.rempeople.com/
Software Category: Retail Execution Software
About the Company: Founded in 2015, REM People is a next-generation retail analytics company that provides AI-powered omnichannel retail execution management solutions. It offers integrated solutions that enable consumer packaged goods companies and retailers to monitor their performance in all the channels in which they operate. REM People helps its customers track their product journey by monitoring their retail execution and merchandising operations and their retail execution performance in offline, online, and printed channels. In addition to the three SaaS developed in the field of retail execution management, it also offers "artificial intelligence-based advanced analytics" and "end-to-end research, measurement, and analysis services" based on demand.