TOULOUSE, France & LONDON--(BUSINESS WIRE)--May 21, 2024--
OneStock SAS, a leading provider of Order Management Systems (OMS), today announced a $72 million investment from global growth equity investor Summit Partners.
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OneStock was founded in 2015 by CEO, Romulus Grigoras, and CTO, Benoit Baccot, to help retailers and brands navigate the increasing complexity of the omnichannel landscape and enhance overall customer experience. The company’s cloud-native solution provides a centralised platform designed to manage end-to-end order fulfillment and visibility and empower retailers to offer a seamless ‘buy anywhere, deliver anywhere, return anywhere’ experience to customers.
"Since the beginning, OneStock has been dedicated to creating smarter and more sustainable shopping experiences, and our partnership with Summit marks a thrilling new chapter in our journey, reaffirming our long-term commitment to innovation and growth in the retail technology space,” commented Mr. Grigoras. “With Summit's support and the benefit of their deep experience in the retail technology sector, we're poised to accelerate our growth even further. Our clear ambition is to emerge as the number one global leader in the OMS category.”
Offering a highly compelling customer ROI and a feature-rich, user-centric solution, OneStock has experienced robust, profitable growth in recent years, achieving a 2.5-fold increase in recurring revenue since 2021. The company has seen widespread adoption amongst major enterprise customers across diverse verticals, ranging from luxury goods to car parts, pet food to furniture, and from traditional B2C retailers to franchiser networks and B2B commerce. Today, more than 100 international retailers and brands across 25 countries leverage OneStock, with the platform facilitating over €2.5 billion in orders annually. OneStock customers include Yves Rocher, WHSmith, Intersport, ManoMano, and S.Oliver.
“With the proliferation of online and offline sales channels and consumers’ ever-increasing expectations for instant product availability and fulfillment, we believe a modern OMS has become a critical part of the retail supply chain. In our view, OneStock has developed the most intuitive, scalable and differentiated cloud-native OMS solutions, purpose-built to help brands and retailers to plan better, grow faster, sell more and waste less,” comments Steffan Peyer, a Managing Director at Summit Partners who will join the OneStock Board of Directors.
This new funding will be used to fuel OneStock’s continued international expansion, particularly into the U.S. market, and to help accelerate the company’s vision for a retail landscape where order management is seamless and easy. OneStock is a proud Adobe Gold Partner, one of the select few MACH-certified OMS providers in the MACH Alliance, and the first OMS with an official integration with Shopify. The company aims to become the easiest-to-integrate OMS in the market by expanding its partner relationships, by extending the comprehensive range of integrations offered in the OneStock Extensions Portal and by soon opening its platform to external agencies and customers seeking to develop additional extensions for particular use cases and verticals. In addition, the company plans to accelerate product development in a number of areas, including B2B, AI and circular economy initiatives.
“OneStock is known in the retail market for having an impressive track record of innovation, including what we believe are pioneering features such as gamification as part of its Ship from Store product, its advanced Business Intelligence Suite, and one of the most sophisticated Delivery Promise solutions in the industry,” said Nik Ohri, a Vice President at Summit Partners who will also join the OneStock Board of Directors.
“We are thrilled to partner with this highly experienced team, and we look forward to working with Romulus and Benoit to help accelerate their vision and expand the reach of OneStock’s impact globally.”
Mr. Grigoras added: “I want to extend my heartfelt thanks to the entire OneStock team and all of our partners and customers, whose hard work and collaboration have been instrumental in helping OneStock achieve this fantastic milestone. We remain committed to supporting the success of our customers as we continue to shape the future of retail!”
About OneStock
OneStock is Europe’s market-leading distributed order management system provider. We help retailers unlock their full omnichannel potential and power some of the world’s most convenient shopping experiences. Our cloud-native SaaS solution improves operational efficiency, increases online revenue and enhances customer experience.
A single view of inventory across all stock locations enables our clients to maximise sales opportunities, enhance fulfilment options, optimise order orchestration, create new omnichannel capabilities, seamlessly manage returns and analyse business performance. OneStock is a proud member of the MACH Alliance and provides best-of-breed solutions for many brands, including: Pets at Home, Jigsaw, Hackett, The Perfume Shop, Dune and Moss. For more information, visit onestock-retail.com.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Notable investments in the retail technology and marketing technology sectors include RELEX, Akeneo, Klaviyo, Optimove, Later and Mi9 Retail. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.
Founders Benoit Baccot and Romulus Grigoras, OneStock (Photo: Business Wire)
ALGIERS, Algeria (AP) — Algerians voted Saturday in an election to decide whether army-backed President Abdelmadjid Tebboune gets another term in office — five years after pro-democracy protests prompted the military to oust the previous president after two decades in power.
There is little suspense about the result with Tebboune expected to win easily. The question is more about how many voters cast ballots.
Tebboune said after voting that he hoped “whoever wins will continue on the path towards a point of no return in the construction of democracy.”
Polls closed late Saturday and vote counting was underway as Algerians awaited an announcement of the results. The country's election authority at 12:10 a.m. said that vote counting to so far suggested voter turnout was 48% in Algeria and 19.6% for precincts abroad — outpacing the country’s 2019 presidential election, where 39.9% of voters turned out to vote.
It's unclear whether Tebboune will consider such a figure a triumph. In the lead-up to Saturday, his backers and rivals all urged Algerians to come out and vote after boycotts and high abstention rates in previous elections marred the government's ability to claim popular support.
Algeria is Africa's largest country by area and, with almost 45 million people, it's the continent's second most populous after South Africa to hold presidential elections in 2024 — a year in which more than 50 elections are being held worldwide, encompassing more than half the world's population.
The campaign — rescheduled earlier this year to take place during North Africa's hot summer — was characterized by apathy from the population, which continues to be plagued by a high cost of living and drought that brought water shortages to some parts of the country.
“Uncle Tebboune," as his campaign called the 78-year-old, was elected in December 2019 after nearly a year of weekly “Hirak” demonstrations demanding the resignation of former President Abdelaziz Bouteflika. Their demands were met when Bouteflika resigned and was replaced by an interim government of his former allies, which called for elections later in the year.
Protesters opposed holding elections so soon, fearing the candidates running that year were close to the old regime and would derail dreams of a civilian-led, non-military state. Tebboune, a former prime minister seen as close to the military, won. But his victory was stained by boycotts and election day tumult.
Throughout his tenure, Tebboune has used oil and gas revenue to boost some social benefits — including unemployment insurance as well as public wages and pensions — to calm discontent. To cement his legitimacy, Tebboune hopes more of the country's 24 million eligible voters participate in Saturday's election than in his first election when only 39.9% voted.
Many Algerians remain unconvinced that elections will usher in change.
Activists and international organizations, including Amnesty International, have railed against how authorities continue prosecuting those involved in opposition parties, media organizations and civil society groups.
Some have denounced this election as a rubber stamp exercise that can only entrench the status quo.
“Algerians don’t give a damn about this bogus election,” said former Hirak leader Hakim Addad, who was banned from participating in politics three years ago. “The political crisis will persist as long as the regime remains in place. The Hirak has spoken.”
Twenty-six candidates submitted preliminary paperwork to run in the election, although only two were ultimately approved to challenge Tebboune.
Both avoided directly criticizing Tebboune on the campaign trail and, like the incumbent, emphasized election participation.
Abdelali Hassani Cherif, a 57-year-old head of the Islamist party Movement of Society for Peace, made populist appeals to Algerian youth, running on the slogan “Opportunity!” Youcef Aouchiche, a 41-year-old former journalist running with the Socialist Forces Front, or FFS, campaigned on a “vision for tomorrow.”
Both challengers and their parties risked losing backing from supporters who thought they were selling out by giving the impression the election was democratic and contested.
Walking near a vote center in downtown Algiers, longtime FFS supporter Mhand Kasdi said his party had betrayed its ideals by putting forth a candidate for the first time since 1999.
“It is giving its backing to a rigged election,” the 55-year-old gas station manager said, adding that Aouchiche and Hassani “are going to help make the regime's candidate look good."
Voting in his hometown Saturday, Aouchiche called on Algerians to vote for him “to give young people the confidence to put an end to the despair that drives them to take the boats of death in an attempt to reach the other side of the Mediterranean,” referring to those who migrate to Europe.
Andrew Farrand, the Middle East and North Africa director at the geopolitical risk consultancy Horizon Engage, said both challengers were looking more at the 2025 legislative elections than this 2024 presidential contest. Because Algerian law funds political parties based on the number of seats they win in legislative elections, they hope campaigning now positions them for a strong 2025 performance.
“It’s a long game: How can I mobilize my base? How can I build up a campaign machine? And how can I get into the good graces of the authorities so that I can be in a position to increase my seats?” he said. “We’ve seen that in their choice not to overtly criticize president … paired with a very strong message to Algerians to come out and vote.”
Presidential candidate of the Movement of Society for Peace (MSP), Abdelali Hassani Cherif, prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Presidential candidate of the Movement of Society for Peace (MSP), Abdelali Hassani Cherif, prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Presidential candidate and leader of the FFS party, Youcef Aouchich, casts his ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Tizi Ouzou, Algeria. (AP Photo)
Algerian president and candidate for re-election Abdelmajid Tebboune speaks after casting his ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo)
Election officials wait for voters inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter prepares to cast her ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Ballots showing presidential candidates inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A ballot showing Algerian president and candidate for re-election Abdelmajid Tebboune, inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Ballots showing the three presidential candidates are placed on a table inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Anis Belghoul)
A voter prepares to cast her ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Election officials wait for voters inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter poses for a photo with her inked finger after casting her ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
CORRECTS DATE - A voter prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A man walks past electoral banners of presidential candidate, including President Abdelmadjid Tebboune, center, Tuesday, Aug. 27, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Algerian president and candidate for re-election Abdelmajid Tebboune delivers a speech during his campaign for the upcoming presidential election, in Oran, Algeria, Sunday, Aug. 26, 2024. (AP Photo/Str)
