Octopus leads $5m funding for Rangespan

Retail management software specialists Rangespan will use the funding to extend the reach of its latest proprietary market data service RangeRank, which tackles the issue of big data for retailers. The fresh capital will also help the business grow its retailer and supplier networks in the UK market.

Rangespan are already working with Tesco, Argos and Asda, which use the company's core services.

Octopus Investments was founded in 2000 and has more than £2.7bn in assets under management.

Company
Founded in 2011 by Ryan Regan and Matt Henderson, Rangespan was designed to be a low-risk way for retailers to grow their product ranges.

Rangespan notably offers a proprietary market data service called RangeRank. By predicting the sales potential for products in the market, RangeRank aims to enable retailers to increase their sales and profits by adding winning products while avoiding or dropping slow selling products.

People
Ryan Regan and Matt Henderson are the founders of Rangespan. Alliott Cole is a principal in the venture team at Octopus.

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