Impact Analytics Secures $10 Million in Additional Funding
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 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.”
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“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-19 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-19 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-19, 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 life cycle pricing for retailers, direct-to-consumer e-commerce and consumer product companies.
Prashant said companies are now reevaluating 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.”
