Impact Analytics, a Bengaluru-based retail software-as-a-service (SaaS) startup, has raised $40 million in growth financing led by Sageview Capital, with participation from Vistara Growth.
Focused on expansion
The startup plans to use the raised funds to expand its team and maintain its position as a leader in technology and AI capabilities within the industry. Additionally, Jeff Klemens, Partner at Sageview Capital, and Prashanth Palakurthi, Senior Advisor at Sageview Capital, are set to join Impact Analytics' board of directors.
What does the leadership say about funding?
Prashant Agrawal, Founder and CEO of Impact Analytics, said, "This funding round could not have come at a more propitious moment, we could not have imagined better partners than Sageview and Vistara, and adding Palakurthi and Klemens is especially satisfying as they have both been there, done that."
The startup, which started in 2015, claims to have grown to be one of the largest enterprise software companies emerging from India.
What does Impact Analytics do?
Impact Analytics offers a suite of products focusing on planning, forecasting, merchandising, and end-to-end lifecycle pricing. The startup said that these products are designed to empower retailers in making data-driven decisions and transforming their businesses.
Investing in tech-enabled businesses
Sageview Capital, the lead investor in this funding round, is a private investment firm with a focus on software and tech-enabled businesses. The firm's minvestment portfolio includes a diverse range of companies such as 360insights, Aceable, Anitian, and many others.
Jeff Klemens of Sageview Capital highlighted the company's pioneering role in leveraging disruptive technologies and understanding customer challenges, stating, “Impact Analytics clearly excels in all these regards as a pioneer in their space and we look forward to a fruitful and exciting partnership.”
Neil Kenley, Principal at Vistara Growth, said the market has recognised Impact Analytics as a leader in its category and “we see the company developing into an industry juggernaut.”
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