Impact Analytics Secures $10 Million in Additional Funding Led by Argentum
The money will fund the company’s growth, which includes opening offices in London and Dubai
After a “banner year” serving the consumer, retail, and manufacturing industries, SaaS and AI-based solution provider Impact Analytics has raised an additional $10 million from investors, led by Argentum Capital Partners IV L.P. This latest round follows Argentum’s previous led investment of $11 million, which was secured in February of 2021.
“Along with the continued expansion of Impact Analytics’ AI-led retail solution suite, the round of funding will be used to scale the company’s customer success and sales and marketing organizations to meet the surge of demand for its AI-led products in North and South America, Europe, EMEA and Asia,” the company said in a statement, also noting that in 2023, Impact Analytics “will open offices in London and Dubai to meet burgeoning global demand.”
“Impact Analytics’ AI-led platform represents the next generation of unified retail planning, overtaking traditional and disparate systems that are cumbersome, inaccurate, mired with complex workflows, and not backed by real-time data,” said Walter Barandiarán, Argentum’s managing partner. “From the empty shelves of COVID to the glut of inventory and markdowns before the holiday season, we are excited to see brands and retailers making the shift to AI and ML and turning to Impact to gain an entirely new level of decision-making to deliver to the customer.”
Impact Analytics’ growth trajectory is fueled by businesses looking to improve efficiencies and maximize outcomes via SaaS and AI-powered forecasting platforms. The company noted that it pulled together a team of passionate and driven leaders along with product industry experts, data scientists, and dedicated customer care teams. Impact Analytics said it will continue to onboard top talent “who push the boundaries of what’s possible when humans and machines work together.”
Prashant Agrawal, chief executive officer of Impact Analytics, said this is a moment in time “where COVID didn’t create Peloton or Zoom, but it propelled their success. Forecasting and pricing processes are broken and determinative to the bottom line. During COVID, we helped our clients accurately predict demand, and we thought that was tricky. But today, with unprecedented inflation, continuing supply chain issues, conflicts in Europe, consumer sentiment shifts, and recessionary fears − AI/ML forecasting is a necessity.”
Impact Analytics’ next-generation AI-driven technology “SmartSuite” platform is designed for optimizing forecasting, planning, merchandising, and end-to-end lifecycle pricing for retailers, DTC eCommerce. and consumer product companies.
Prashant said companies are now re-evaluating and leveraging “smart-decisioning technology” powered by artificial intelligence. “It’s why we’ve seen a tremendous demand for our AI-driven solutions that allow organizations to move fast and strategically with predictive and prescriptive insights across the retail value chain.”
Argentum is a New York-based growth equity firm that helps scale bootstrapped B2B software, technology-enabled and business services companies. The firm invests in companies with revenues of $5 million to $25 million, providing capital to accelerate growth, fund acquisitions and / or generate shareholder liquidity. Over its 30-year history, Argentum has invested in over 90 companies, supported more than 200 add-on acquisitions, and been recognized on Inc.’s list of Founder-Friendly Investors for multiple years. Argentum fills the growing gap between early-stage venture capital investors and later stage growth equity firms by targeting bootstrapped companies seeking $5 million to $15 million of equity capital. To learn more, visit: https://argentumgroup.com
About Impact Analytics
Impact Analytics is a fast-growing, AI-powered software solutions company that provides planning, merchandising and forecasting tools for the retail, CPG and grocery sectors. Its suite of products for Assortment planning, Allocation optimization, Markdown optimization and Promotion planning is empowering leading retailers to make smart data-based decisions and transform their businesses and achieve substantial business benefits. To learn more, visit: https://impactanalytics.co