SaaS Firm Impact Analytics Raises $10 Mn From Argentum Capital Partners
Impact Analytics, a software-as-a-service (SaaS) startup, has raised $10 million (around Rs 82.6 crore) as a part of its Series B funding round from its existing investor Argentum Capital Partners.
As per the startup, the raised funds will be deployed to scale up its artificial intelligence-led forecasting products as well as sales and marketing operations.
Impact Analytics | Blending The Art And Science Of AI
Founded by Prashant Agrawal in 2015, Impact Analytics offers 360-degree AI-powered retail automation products to empower enterprises to automate their complex workflows and help them turn their data into insights.
The Maryland and Bengaluru-based firm offers solutions in the retail, consumer-packaged goods, manufacturing and supply chain sectors, allowing them to make pricing decisions, forecast trends, and merchandise their offerings through its SaaS offerings.
Speaking about the development, Prashant Agrawal, Founder and CEO at Impact Analytics, 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.”
As per the startup, its forecasting products, including SmartSuite, one of its key offerings, have been deployed at about 10 of the top 25 retailers, three of the top 10 consumer-packaged goods companies, and five global manufacturers.
Last year, in February, the Maryland and Bengaluru-based firm raised $11 million in a Series A investment round led by Argentum Capital Partners.
Argentum Capital Partners offers growth equity to scale bootstrapped and founder-led business-to-business (B2B) software, technology-enabled and business services companies. The New York-based private equity firm invests in companies with revenues of $5 million to $20 million, providing capital to accelerate growth, fund acquisitions or generate shareholder liquidity.
Recently, Avataar Venture Partners launched Fund II with a target size of $350 million to invest in 12-15 growth-stage startups operating via business-to-business (B2B) and software-as-a-service (SaaS) models.
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