Retail loss prevention and data services company set to expand team and further develop solutions for retailers
ATLANTE, April 26, 2022 /PRNewswire-PRWeb/ — Lillii RNB Inc., a retail fraud detection and prevention and data services company, today announced the closing of its $3 million funding round co-led by Serena Ventures and Aperture Venture Capital. Lillii RNB’s proprietary platform for retail returns and total loss management, Freeing ReturnsTM, helps retailers optimize their returns processes and identify fraud and loss hidden in their own data. Lillii RNB’s mission is to significantly reduce 400 billion dollars of the retail loss that retailers incur each year.
“Closing our pre-seed funding round in 2021 and successfully closing our seed round in the first quarter of this year are huge testaments to the progress we have made and the momentum we are building” , said Barbara Jones Brownfounder and CEO of Lillii RNB Inc. “Retailers have long suffered from fraudsters, hackers and lack effective tools to fight back. With this capital and the backing of blue-chip investors, Lillii RNB is taking a step closer to help retailers and business owners turn the tide on bad actors and focus on growing their businesses.”
The funding round was co-led by Serena Williams’ venture capital firm, Serena Ventures, and Aperture Venture Capital. Previous investors include Morgan Stanley, Pax Angels, 1863 Ventures, Bronze Valley and Atlanta local angels, Laron Walker and Rabieh Razzouk. With the close of this round, Lillii RNB is also proud that more than 90% of its early backers are black-led fund managers.
“I am happy to support and invest in women like Barbara and companies like Lillii RNB Inc., which fill a huge need for retail brands,” said Serena Williams, managing partner of Serena Ventures. “This investment is part of our vision of a world where dreams are not stifled by a lack of access to resources.”
Guillaume Crowderfounder and managing partner at Aperture Venture Capital, explains, “The Aperture VC thesis focuses on opportunities with diverse founders who leverage financial innovation to help individuals and businesses thrive. The pervasiveness and proliferation of hackers and fraud is one of the biggest obstacles to business. Barbara and the entire Lillii RNB team are passionate about using machine learning and artificial intelligence to break down these barriers. Aperture and its ecosystem of leading financial brands are thrilled to join Lillii RNB in this ambitious journey.
Since its launch in 2020, Lillii RNB’s cloud solution has helped identify and prevent losses for in-store and online retail channels across many industries including grocery, apparel, sports and electronics. The seed funding will allow Lillii RNB to take another important step in bringing its innovation to retailers around the world.
About Lillii RNB
Lillii RNB, Inc. (“Imagine Life with Ladies In IT”) is a retail fraud detection, prevention and data services company based in Atlanta, Georgia. Its proprietary solution, Freeing ReturnsTM, optimizes the returns process for retailers, uses machine learning and artificial intelligence to spot organized crime in retail, and helps loss prevention teams respond quickly. Lillii RNB’s mission is to significantly reduce 400 billion dollars annual loss suffered by retailers due to returns, fraud, hackers and bad actors.
For more information, follow us @LillliiRNBInc and visit http://www.lilliirnb.com. To learn more about the Freeing ReturnsTM platform, follow us @freeingreturns and visit http://www.freeingreturns.com.
About Serena Ventures
Serena Ventures is an early-stage venture capital firm that invests in founders who solve everyday problems through diverse perspectives and leadership. With investments spanning the technology, consumer wellness and fintech sectors, the company aims to bring greater impact and opportunity to historically overlooked founders, namely women and BIPOC-led businesses. Follow us @SerenaVentures and learn more at http://www.serenaventures.com.
About Aperture Venture Capital
Aperture Venture Capital is VC for the Multicultural Mainstream™. We make seed investments in diverse founders who leverage financial innovation to help individuals and businesses thrive. Aperture has built a powerful ecosystem of investors that includes the world’s leading financial brands, providing our portfolio companies with valuable strategic and operational resources that accelerate growth, increase scale and create transformative results. The Aperture team operating from offices in philadelphia cream and Los Angeles, helps companies, endowments, and Fortune 500 institutions quickly turn DEI strategy into measurable impact. Follow us @ApertureVC and learn more at openingvc.com.
Barbara L Jones, Lillii RNB Inc, 1 5127711453, [email protected]
SOURCE Lillii RNB Inc