Quick Takeaways
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Industry Lag: Corina Marshall identified that retail digital marketing, especially in managing unsold inventory, is outdated, leading to inefficient processes and financial losses for brands.
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Innovative Solution: In 2024, she launched Another, a software platform designed to streamline the management of off-channel inventory by providing real-time data and insights, enabling better decision-making.
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Funding and Growth: Another secured a $2.5 million seed round led by Anthemis FIL and Westbound, which will be used to accelerate product development and expand the team.
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Sustainability Focus: Marshall aims to address excess inventory proactively, enhancing profitability and reducing waste, while offering consumers better prices and options, benefiting all stakeholders in the retail ecosystem.
Revolutionizing Inventory Management
Corina Marshall observed a significant gap in retail technology during her eleven years in digital marketing. The current systems for selling unsold or excess inventory lag behind the needs of modern businesses. Retail brands often resort to discount retailers like Nordstrom Rack, but this approach may result in financial losses. Managing unsold inventory presents several challenges. Products pile up in warehouses, and teams struggle to determine their value and the optimal selling time. Marshall stressed that “too much time passes” between steps in the inventory management process, complicating operations.
To address these issues, she founded Another, a software platform designed to streamline management of excess inventory. This innovative solution connects seamlessly with existing software systems, allowing for better data centralization—an essential factor for effective decision-making. Retailers in dynamic markets need timely access to real-time data. By providing insightful analytics, Another empowers teams to make informed decisions about when and where to sell inventory, enhancing overall profitability.
Balancing Profitability and Sustainability
The recent $2.5 million seed funding for Another, led by Anthemis FIL and Westbound, signifies investor confidence in this venture. The capital will expedite product development and staffing, enabling rapid adaptation in a competitive landscape. Unlike its competitors like Ghost, Another focuses on preventing the need for bulk reselling, which often results in drastic markdowns. Marshall argues that her technology not only maximizes inventory value but also promotes sustainability. Excess inventory frequently ends up destroyed if not sold quickly, contributing to waste.
Consumers benefit from access to better prices and more options as brands improve profitability and reduce waste. Marshall envisions a future where both retailers and consumers thrive. By optimizing how businesses manage unsold inventory, Another aims to foster a more efficient retail landscape. This shift not only enhances profit margins but also aligns with environmentally conscious practices, marking a progressive step for the industry.
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