G2 Venture Partners backs retail tech startup MakerSights

US-based retail analytics software startup, MakerSights, has announced a $25 million Series B investment headed up by G2 Venture Partners.

This follows the company’s $8.5 million Series A led by Forerunner Ventures in 2019 and $3.1 million in seed funding led by Baseline Ventures in 2017, bringing funding to a total of $37 million over the past five years.

Traditional retail is an environmental disaster. Brands lack the ability to accurately forecast demand, resulting in over producing products that end up in our landfills

With @MakerSights collaborative workflow tools, brands create more products that sell and fewer that don’t. pic.twitter.com/kgXaFtX206
— G2 Venture Partners (@G2VPLLC) August 4, 2021

“Every year nearly 40% of products that are produced fail to sell, resulting in hundreds of billions dollars in missed sales and a staggering environmental footprint for retail, an industry now responsible for nearly 10% of global CO2 emissions,” says Dan Leahy, CEO at MakerSights, which works with the likes of Ralph Lauren, New Balance, Champion, TEVA, Orvis and HOKA.

“We believe that addressing the traditionally siloed and opinion driven process for bringing assortments to market is the biggest opportunity for brands to reduce their waste.”

“We’ve spent the past six years collaborating with leading brands to evolve this process through streamlined workflows that drive consumer informed decisions.”

“Our brands have proven it’s possible to deliver assortments with higher profits and less waste. With the addition of G2 Venture Partners’ expertise in harnessing efficient business processes to deliver more sustainable outcomes, we’re eager to usher in a less wasteful era of retail.”

“We’re committed to backing entrepreneurs who are creating new avenues to support environmentally responsible economic growth, and MakerSights is providing a technology solution that takes a modern approach to solving the decades long waste problem in retail,” says Zach Barasz, Partner at G2 Venture Partners.

“Retail needs to embrace new ways of working, and we believe MakerSights brings a transformative, yet scalable solution to brands across the retail ecosystem.”

“Their proven approach of harnessing market demand signals to better inform large material and financial investments presents a clear path to dramatically reducing waste for this industry.”