SaaS startup Impact Analytics has raised $11 million in a financing round led by New York-based growth equity firm Argentum Capital Partners IV. Managing Partner at Argentum, Walter H Barandiarán would now join the Board of Directors at Impact Analytics.
Impact Analytics offers AI-driven SaaS solutions that optimise forecasting, planning, and merchandising functions for retailers and packaged goods manufacturers. Using the company’s solutions, retailers can increase their sales and margins.
Impact analytics’ popular solutions include the SmartSuite and Forecasting products for assortment planning, optimisation, and promotion planning, deployed by leading retailers such as Calvin Klien, Puma, JoAnn, Belk, and Tommy Hilfiger.
Speaking about the funding, Prashant Agrawal, Impact’s CEO, said, “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.”
This is the third investment by Argentum Capital Partners IV, L.P. (ACP IV), Argentum’s new fund. “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,” said Walter Barandiarán.