The acquisition of Supahands will help strengthen Omnilytics’ product offering and sharpen its competitive advantage in the retail intelligence ecosystem
Omnilytics, a fashion analytics and insights software, announced its intention to acquire and partner with data labelling platform, Supahands, in a deal valued at US$20 million. Omnilytics will be embarking on an ongoing strategic acquisition drive to bolster its core functions and technological capabilities to supercharge its long-term growth.
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Omnilytics’ proprietary Product Match solution enables brands and retailers to compare the same or similar stock-keeping units (SKUs) across multiple platforms giving them valuable insights into how the market is pricing the same products. To date, Omnilytics counts the likes of emerging markets-focused e-commerce leader Global Fashion Group, Southeast Asia e-retailer Zalora, Australia’s largest fashion and sportswear online retailer The ICONIC, Uniqlo parent company Fast Retailing, South Africa’s leading retailer Mr Price, and Europe’s largest sportswear manufacturer adidas, among many others, as part of its growing global clientele.
Kendrick Wong, CEO and Co-Founder of Omnilytics said, “In recent years, the e-commerce landscape has rapidly evolved, catering to ever-shifting consumer demands. At Omnilytics, our vision is to enable a more intelligent, connected retail ecosystem, enabling brands to stay ahead of their competitors. Our acquisition of Supahands marks a pivotal step in our journey, filling a critical gap in our existing tech capabilities as we take one step closer in becoming retail’s most important data stack.”
With its proprietary Product Match solution, Omnilytics seeks to help the world trade efficiently by transforming retail with intelligent connected data and actionable insights. By using a singular set of naming conventions, Omnilytics provides retailers with the confidence to make accurate data-driven decisions at both product and market level and reduce risk of inconsistencies and misclassifications in their product database — ultimately achieving better business performance overall. The acquisition of Supahands is set to bring Omnilytics’ Product Match solution to the next level, opening doors to future partnership and innovation endeavours across the e-commerce landscape.
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Founded in 2014 and headquartered in Malaysia, Supahands is an end-to-end data labelling platform that develops training data to enable clients to launch and scale high-performing artificial intelligence applications for their business. The company’s global clientele includes the likes of online consumer marketplace Carousell, SaaS customer experience management platform Sprinklr, and retail solutions provider Badger Technologies. Supahands’ investors include 500 Startups, Patamar Capital, Cradle Seed Ventures, and Axiata Digital Innovation Fund. Supahands was also awarded an innovation grant from the Malaysia Digital Economy Corporation (MDEC) in 2020.
Mark Koh, CEO and Co-Founder of Supahands said, “Accelerating the adoption of AI is at the heart of our business at Supahands, having witnessed first hand the tangible benefits that artificial intelligence and machine learning can bring to our clients as they strengthen the different pillars of their business from analytics to deployment. We are proud to be joining forces with Omnilytics who share our same vision of revolutionising the retail tech ecosystem with unparalleled service and innovation while still serving our existing and new clients in other industries.”
Following the acquisition, Koh will join the Omnilytics Board, taking on the role of Chief Strategy Officer as Omnilytics embarks on its accelerated growth plan for 2022.
Omnilytics CEO and Co-Founder Kendrick Wong and Incoming Chief Strategy Officer Mark Koh are available for interview
