AI-driven software-as-a-service (SaaS) solutions provider Impact Analytics on Tuesday said it has raised $40 million in growth financing led by Sageview Capital, with support from Vistara Growth.
As part of this transaction, Jeff Klemens, partner at Sageview Capital; and Prashanth Palakurthi, senior advisor at Sageview Capital and founder and former CEO of Reflexis Systems, will join the company’s board of directors, the company said in a statement.
“Sageview Capital partners with proven companies that leverage disruptive technologies and that have an intimate understanding of their customers’ business challenges and objectives. Impact Analytics clearly excels in all these regards as a pioneer in their space and we look forward to a fruitful and exciting partnership,” said Jeff Klemens, partner at Sageview Capital.
Founded in 2015, Impact Analytics offers a completely integrated, retail, grocery, CPG, and supply chain-focused suite of native AI-powered planning and merchandising products.
It raised $11 million in 2021 and $10 million in 2022 in Series A funding led by Argentum Capital Partners IV, LP.
The company added that it will use the latest funding to expand its Bengaluru-based team to ensure its technology platform and AI capabilities continue to be an industry leader.
The funds will also be utilised to expand its sales, marketing, and customer service organisations across geographies, deepen strategic partnerships; and strengthen its balance sheet in anticipation of future growth opportunities, the firm said.
The investment in Impact Analytics aligns with the global trend of backing AI companies, as investors anticipate that advancements in the new technology will boost efficiency across industries, with leading startups delivering substantial returns for them.
In other prominent AI deals, startup Sarvam AI raised $41 million in a Series A funding round led by Lightspeed, barely five months into operation. AI and analytics solutions firm Course5 Intelligence raked in $53 million, while AI-enabled pipeline acceleration startup RevSure.AI has raised $10 million in its seed funding round.