Argentum Expands Investment with AI/ML Innovator to Meet Demand
Impact Analytics, a leading provider of SaaS AI-based solutions for strategic and unified planning for retail, CPG, and supply chain, announced the closing of a $10-million round in growth financing led by Argentum Capital Partners IV, L.P. This funding is in addition to Argentum’s previous led investment of $11 million, 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. In 2023, Impact Analytics will open offices in London and Dubai to meet burgeoning global demand. Led by highly passionate and driven leaders, product industry experts, expert data scientists, and dedicated customer care teams, Impact Analytics will continue to onboard top talent who push the boundaries of what’s possible when humans and machines work together.
“We are having 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,” stated Prashant Agrawal, Impact Analytics’ CEO.
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Impact Analytics’ next-generation AI-driven technology platform powers SaaS solutions aimed at optimizing forecasting, planning, merchandising, and end-to-end lifecycle pricing for retailers, DTC eCommerce. and CPGs. Highly rated by industry peers and market researchers, the Company’s award-winning SmartSuite and forecasting products for assortment planning, inventory optimization, markdown optimization, and promotion planning are deployed at forward-looking retailers driving smarter decision with real-time insights, including 10 of the top 25 retailers, three of the top 10 CPG companies, and five leading global manufacturers.
“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,” said Prashant.
“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.”
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Impact Analytics is advancing forecast precision to highly reliable levels across its SmartSuite products:
- Unique AI/ML models and innovations that support all item types
- Glass box visibility to clearly rationalize how the forecast was created
- Models that leverage hundreds of causal factors to develop the forecast
- The ability to work exceptionally well for new, volatile, and low volume products
As a result, Impact Analytics clients realize significantly higher forecast accuracy to fuel substantial improvements in revenue, margin, and critical KPIs. These metrics are further leveraged across the platform to deliver powerful AI-driven Business Intelligence solutions for testing, reporting, and store execution. The Company’s decisioning systems also enhance retailers’ sustainability efforts by helping them make merchandising and allocation decisions that are more precise, reducing waste and their carbon footprint.
“We are honored that Walter and Argentum continue to fuel the growth and momentum of Impact Analytics’ AI-driven technology. This next round of investment will allow us to better serve our fast-growing roster of clients, along with our strong business pipeline, and keep up with demand for our technology as we expand Impact’s footprint globally,” added Prashant.