Impact Analytics Raises $11M to Accelerate Growth
Impact Analytics, Inc., a provider of AI-driven SaaS solutions for planning and merchandising within the retail industry, announced that it has closed an $11 million growth financing led by Argentum Capital Partners IV, L.P. In connection with the financing, Walter H. Barandiarán, Managing Partner at Argentum, has joined Impact’s board of directors.
Impact’s AI-driven technology platform powers SaaS solutions aimed at optimizing the forecasting, planning and merchandising functions for retailers and consumer packaged goods 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.
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 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 brick-and-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.”