Simporter, AI powered SaaS startup secured $600K in Seed funding

Simporter, an Atlanta based SaaS startup leveraging AI to predict the consumer demand for new products, has now secured $600,000 in the seed funding round.

Simporter is founded by Dillon Hall and Tim Hall in the year 2018. It provides an AI software platform that predicts the sales for consumer products before and after they go to the market. Both the retailers and manufacturers use it to pinpoint which products consumers truly want and how often they will buy. The technology helps to analyses billions of data points from the point of sales, customer reviews, and social media sentiment.

The company is based in Georgia, with its development center in Ukraine.

Tim Hall, Simporter's other co-founder, said, "We're grateful to our investors for this capital to further accelerate our growth. Twelve Fortune-500 companies like Danone, Church & Dwight, and Calvin Klein use our software-as-a-service to discover opportunities for innovation; validate new product concepts; and accurately predict consumer demand during disruptions like Covid-19. They've been able to increase revenue an average +22% using Simporter."

Dillon Hall, the co-founder of Simporter, said, "We're delighted to have Mitch on our board. His expertise will greatly help our mission to empower brands and retailers with AI-driven analytics, so they can thrive in today's volatile markets."

The Startup Wise Guys led the latest funding round. Other participating investors include Angel investors from Japan, Denmark, Estonia, and some other regions.

Post funding, Mitch Barns, the Former CEO of Nielsen Inc, will join Simporter Advisory Board.