The SaaS startup raised the amount from Argentum Capital Partners in a Series B funding round
The development comes a year after Impact Analytics secured $11 Mn in Series A, also led by Argentum
The startup will use the funds to scale up its offerings and grow its sales and marketing operations
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SaaS startup Impact Analytics has raised $10 Mn (about INR 82 Cr) in its Series B funding round from Argentum Capital Partners.
The development comes a year after Impact Analytics secured $11 Mn in its Series A investment round led by Argentum Capital Partners.
Founded in 2015 by Prashant Agarwal, this India and US-based startup offers merchandising, forecasting, inventory optimisation and pricing solutions to companies working in diverse sectors, including supply chain, retail, consumer-packaged goods and manufacturing.
“Companies are now re-evaluating and leveraging smart decisioning technology powered by artificial intelligence. It’s why we’ve seen a tremendous demand for our AI-driven solutions that allow organizations to move fast and strategically with predictive and prescriptive insights across the retail value chain,” said Prashant Agrawal, CEO at Impact Analytics.
Impact Analytics said that its product SmartSuite has been used by various retailers, consumer-packaged goods companies, and manufacturing companies.
Some of its clients include — Puma, Walmart, Calvin Klein, Kate Spade, Tommy Hilfiger among others.
The SaaS startup will deploy the raised funds to expand its offerings and scale sales as well as marketing operations.
In 2016, the startup raised $750K in a funding round. Its counts Aarin Capital, Michael Herzig, and Ashish Lakhanpal from Kismet Capital, among others as its investors
In the financial year ending March 2021, it posted a revenue of INR 34 Cr and a profit of INR 1.4 Cr. Meanwhile, in the fiscal year 2020, it clocked a revenue of INR 29.6 Cr and a profit of about INR 1.8 Cr.
According to a report, in 2021, the country’s SaaS startups garnered investments of nearly $4.5 Bn from the previous year (2020). In addition, the SaaS sector is likely to become a $30 Bn market by 2025. It will capture 9% of the global SaaS market by 2025.
Recently, a slew of SaaS startups such as Better Capital-backed UserStudy, Bessemer Venture Partners’-Zenskar, and Nexus Venture Partners-backed-DAOLens bagged funding.
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