BALTIMORE, Md., Feb. 23, 2021 /PRNewswire/ -- Impact Analytics,
Inc. ("Impact" or the "Company"), a leading provider of AI-driven
SaaS solutions for planning & merchandising within the retail
industry, announced today that it has closed an $11 million growth financing led by Argentum
Capital Partners IV, L.P. In connection with the financing,
Walter H. BarandiarĂ¡n, Managing Partner at Argentum, has joined
Impact's Board of Directors.
Impact Analytics raises $11 Million
led by Argentum to accelerate growth
Impact's industry-leading, next-generation AI-driven technology
platform powers SaaS solutions aimed at optimizing the forecasting,
planning and merchandising functions for retailers and consumer
packaged goods ("CPG") manufacturers. As the industry
currently relies on spreadsheets and legacy manual systems for
these key decisions, retailers have an opportunity to increase
sales and margins by utilizing Impact's solutions.
The Company's SmartSuite and Forecasting products for Assortment
planning, Allocation optimization, Markdown optimization and
Promotion planning are deployed at leading retailers, including
Calvin Klein, Tommy Hilfiger, Puma, JoAnn and
Belk. Several large private equity firms are actively
encouraging their portfolio companies in the retail sector to adopt
Impact's solutions.
"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," said
Prashant Agrawal, Impact's CEO.
The Company's decisioning systems also enhance retailers'
sustainability efforts by helping them make more precise
merchandising and allocation decisions, reducing waste and their
carbon footprint.
"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 BarandiarĂ¡n, 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," Walter added.
"We look forward to working with Walter and Argentum and
leveraging their domain knowledge and experience investing in
retail tech. Argentum is known for their expertise in
partnering with bootstrapped companies to accelerate growth, and
with their investment, we will build our sales team, expand our
product development team and increase the market reach of our
products," added Prashant.
About Impact Analytics
Impact Analytics is a fast-growing, AI-powered software
solutions company that provides planning, merchandising and
forecasting tools for the retail, CPG and grocery sectors. Its
suite of products for Assortment planning, Allocation optimization,
Markdown optimization and Promotion planning is empowering leading
retailers to make smart data-based decisions and transform their
businesses and achieve substantial business benefits. To learn
more, visit: https://impactanalytics.co
Impact Analytics was named as a representative vendor in two
recent Gartner Market Guide for Retail reports:
- Assortment Optimization Applications in
Merchandising (October 2020)
highlights Impact's AssortSmart solution.
- Unified Price, Promotion and Markdown Optimization
Applications (January 2021)
references Impact's Pricing & Promo
Suite (PriceSmart, MarkSmart, PromoSmart + TradeSmart).
Gartner Disclaimer: Gartner does not endorse
any vendor, product or service depicted in its research
publications, and does not advise technology users to select only
those vendors with the highest ratings or other
designation. Gartner research publications consist of the
opinions of Gartner's research organization and should not be
construed as statements of fact. Gartner disclaims all warranties,
expressed or implied, with respect to this research, including any
warranties of merchantability or fitness for a particular
purpose.
About Argentum
Argentum is a New York-based
growth equity firm that partners with entrepreneurial owners to
build industry-leading B2B software, technology-enabled and
business services companies. The firm invests in companies
with revenues of $5 million to
$25 million, providing capital to
accelerate growth, fund acquisitions and / or generate shareholder
liquidity. Over its 30-year history, Argentum has invested in 90
companies and supported more than 200 add-on acquisitions.
Argentum fills the growing gap between early-stage venture capital
investors and later stage growth equity firms by targeting
bootstrapped companies seeking $5
million to $15 million of
equity capital. To learn more, visit:
https://argentumgroup.com
Media Contact: Sulabh Jain,
sulabh.jain@impactanalytics.co, (704) 858-3061
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SOURCE Impact Analytics, Inc.