(Bloomberg) -- Finnish software maker Relex Solutions raised 500 million euros at a valuation of 5 billion euros ($5.7 billion) in a funding round spurred by demand from retailers suffering from supply-chain disruptions.

Relex’s artificial intelligence products let businesses such as grocery stores forecast which products to buy, in what quantities, and where best to allocate space for the inventory in stores and warehouses.

“Global supply chain disruptions were one of the reasons why we decided to do the round, to enable us to grow,” Relex Chief Executive Officer Mikko Karkkainen said in an interview. “The past couple of years have shown many companies vulnerabilities in their supply and value chains.”

Relex said in a statement Thursday that it has about 1,300 employees, and the CEO said the company will use some of the money raised to hire hundreds more across roles in software development, marketing, customer support and delivery.

Karkkainen also said Relex is looking into strategic acquisitions, without naming any potential targets or whether discussions were in progress.

The past two years brought into plain view the risks that come with relying on supply chains always working consistently. Automakers face backlogs globally because they can’t get enough semiconductors, while the Covid-19 pandemic’s impact on haulage and drivers slowed deliveries of everything from raw materials to finished consumer products. 

Read more: Vanishing Ships Underscore Supply Woe: Crisis Peak Is a Mirage

Relex said its clients include WM Morrison Supermarkets Ltd., Casino Guichard-Perrachon SA’s chain Franprix and Marks & Spencer Group Plc’s food stores. The company said its biggest market is the U.S., accounting for about a third of new sales.

Blackstone Growth led Relex’s latest round with participation from a number of institutional investors taking a minority stake. The software developer previously raised $200 million from venture capital firm TCV.

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