STAMFORD, CT -- BEV Capital recently completed an investment
in Spotlight Solutions, a provider of revenue management software to
retailers and apparel manufacturers. BEV was invited to participate
in the oversubscribed $13 million Series C financing because of its
reputation and experience in the retail sector. The round, led by
Venrock Associates, also included investments from Blue Chip Venture
Company and Summer Hill Partners.
The retail industry has long been focused on driving down operating
costs. With limited additional cost benefits to be gained, its
attention has turned to revenue management; that is, enhancing the
top-line to drive bottom-line results.
Spotlight Solutions’ software utilizes proprietary mathematical
algorithms to optimize retail pricing, markdown, promotion and other
revenue management decision-making processes. The company’s Markdown
Optimizer (TM) software assists and automates the clearance markdown
process. By optimizing markdown amounts and timing at the SKU- and
store-level, retailers can squeeze more gross margin out of existing
Spotlight is initially targeting department stores, discount
stores, specialty stores and apparel manufacturers where markdowns
can exceed 35% of total sales. Spotlight serves a rapidly growing
list of brand name retailers and manufacturers including Belk,
Dillard’s, Liz Claiborne, Saks and ShopKo. Founded in 1999,
Spotlight is headquartered near Cincinnati, Ohio.
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