AI-driven SaaS solutions startup, Impact Analytics secured $11 Million in funding

Impact Analytics Inc, a Maryland-based provider of Artificial Intelligence-driven SaaS solutions for planning within the retail industry, has now secured $11 million in growth financing.

Impact Analytics is founded by Prashant Agrawal. It provides a next-gen AI-driven technology platform that powers SaaS solutions aimed at optimizing the forecasting, merchandising, and planning functions for retailers and consumer packaged goods manufacturers.

Prashant Agrawal, Impact's CEO, said, "We believe that smart decisions are made when humans and machines work together. We have built best-in-class decisioning systems that unlock the power of artificial intelligence for our customers, in easy-to-use workflows".

Walter H. Barandiaran, the Managing Partner at Argentum, said, "A recent Gartner report concluded that retailers need to adopt AI in order to improve and enhance assortment and pricing optimization. As investors with extensive experience in retail tech, Argentum has seen the COVID pandemic accelerate the need for artificial intelligence and data-based decisioning in the retail industry," said Walter Barandiarán, Argentum's Managing Partner. "Brands and retailers have been forced to re-think overnight their approach to planning and merchandising, as substantial sales volume moved swiftly from bricks & mortar to online commerce. Brands and retailers must now and in the future make smart, data-based decisions in real-time about inventory, pricing and promotion. Impact is well-positioned to fulfill this market need".

The Argentum Capital Partners IV led the latest funding round. The company's products are deployed at leading retailers, which include Belk, Tommy Hilfiger, Puma, Calvin Klein, and JoAnn.

Post funding, Walter H. Barandiaran, the Managing Partner at Argentum will join the Impact Analytics Board of Directors team.

Impact Analytics will leverage newly raised funds to accelerate its growth. The company will build their sales team, expand their product development team and market outreach, notes the announcement.