The funding round was led by US-based investment firm Sageview Capital and also saw participation from existing investor Vistara Growth
Impact Analytics will utilise the fresh proceeds to hire more, expand footprint, further shore up AI capabilities, deepen strategic partnerships, among others
Founded in 2015 by Prashant Agrawal, Impact Analytics offers a suite of AI-based SaaS solutions for its enterprise retail clients
Retail SaaS startup Impact Analytics has raised a $40 Mn (INR 332 Cr) growth financing round led by US-based investment firm Sageview Capital. The round also saw participation from existing investor Vistara Growth.
The fresh proceeds will be utilised to expand the startup’s sales, marketing, and customer service teams across geographies. The capital will also be deployed to expand footprint, further scale up its technology platform and AI capabilities, deepen strategic partnerships, and tap into future growth opportunities, Impact Analytics said in a statement.
As part of the deal, Sageview Capital partner Jeff Klemens and senior advisor at the investment firm, Prashanth Palakurthi, will join the startup’s board of directors.
“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,” said Impact Analytics founder and chief executive officer (CEO) Prashant Agrawal.
Founded in 2015 by Agrawal, Impact Analytics offers a suite of AI-based SaaS solutions for its enterprise clients in areas such as retail, manufacturing and supply-chain. The startup’s SaaS tools for planning, forecasting, merchandising and end-to-end lifecycle pricing enables enterprises to streamline retail operations via technology.
The Bengaluru-based startup last raised $10 Mn funding as part of its Series B funding round in 2022 from Argentum Capital Partners. Prior to that, it secured $11 Mn in a Series A funding round led by Argentum Capital Partners in 2021.
The startup caters to the likes of Ralph Lauren, Calvin Klein, P&G, and Van Heusen.
The Indian enterprisetech sector continues to be an attractive proposition for both domestic and global investors. Banking on the cheap talent pool in the country and a vibrant innovative ecosystem, Indian SaaS startups are building products for both global as well as local clients.
This has brought a steady inflow of capital – over $15 Bn between 2014 and 2023. Last year, enterprisetech emerged as the third-most funded sector, with startups in the sector raising $1.3 Bn across 157 deals even as funding winter cast a gloomy shadow over the ecosystem.
Just last month, B2B SaaS platform Kapture CX closed its Series A funding round after securing $4 Mn from homegrown PE fund India Alternatives. Prior to that, another SaaS platform Finayo also raised INR 16 Cr, in a mix of debt and equity, from NBFC F Mec International Financial Services, Choice Finserv, India Accelerator, among others.
As per a report, the global SaaS industry is projected to balloon to a market size of $908.21 Bn by 2030 as more and more enterprises embrace digital tools.
