Impact Analytics, a Linthicum-based provider of Artificial Intelligence (AI)-driven Software as a Service (SaaS) solutions for planning and merchandising within the retail industry, has closed an $11 million growth financing led by Argentum Capital Partners IV. In connection with the financing, Walter Barandiarán, managing partner at Argentum, has joined Impact’s board of directors.
Impact’s 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.