The SaaS company Madden Analytics was founded in the summer of 2020 by a team with extensive experience in e-commerce and retail from companies such as Sportamore, Sitoo, Nividas Eyewear, and BCG. Now, the company is raising new expansion capital from industry-savvy investors, with Novax as the main investor.
Every year, brands and retailers lose out on sales amounting to hundreds of billions of kronor due to stockouts, while often holding large overstocks of items that are not selling as expected. Technical support for supply chain management has lagged behind – the major technological advancements in e-commerce and retail have rather focused on the customer journey.
Madden Analytics helps brands and e-commerce retailers streamline inventory management and sales analysis with intuitive and powerful software. Users can study sales patterns, optimize inventory levels, and plan purchases based on forecasts that combine advanced data models with the user's own knowledge. Data is collected from all sales channels – both direct-to-consumer sales and via retailers – with ready integrations to the most popular systems. This eliminates all startup costs for customers.
"Our customers say they have missed our service in the market. At the same time, we are humble about how much we have left to do. We will use the capital to invest in organization and technology to develop and reach out with even more useful functionality and even sharper intelligence, thereby helping more customers increase sales and reduce inventory," says CEO Axel Jacobsson.
The company was founded in 2020 by Axel Jacobson and Petter Flordal, who have backgrounds from, among others, BCG, Qliro, and Nividas Eyewear. Since its launch in early 2021, Madden has attracted customers such as Eytys, Gant, Eton, Flattered, ZooVillage, and Care of Carl. It is now raising external capital with Novax as the main investor to accelerate further product development and continued growth. Alongside Novax, there is a broad palette of industry experience in the ownership, including Almi Invest, Jörgen Andersson (former CMO at H&M and Uniqlo), Claes Winterfeldt (former Purchasing Manager at Sportamore and XXL), Mikael Flodman (former CTO at Sportamore), and Johan Dettel (former Partner at EQT).
Joakim Skarborg, CEO of Novax, comments:
"At Novax, we are very pleased to team up with the Madden Analytics team. In Madden, we see much of what we think characterizes a promising early-stage growth company – a strong and industry-savvy team addressing a well-known but unsolved problem in the market, with a product that shows clear and fast ROI for the customer. We look forward to supporting Axel, Petter, and the team on their continued journey forward."
Axel Jacobsson, founder and CEO of Madden, continues:
"We are pleased to welcome Novax as shareholders. Their history of company building and experiences from growth journeys like Voyado, Medius, and other companies within retail-tech make this a perfect match for us. We look forward to working together for many years to come."
Contact:
Axel Jacobsson, CEO, Madden Analytics
+46 (0) 735 61 88 68
Joakim Skarborg, CEO, Novax
