Impact Analytics, based in Maryland, has closed its Vistara Growth funding, according to a press release. The news is confirmed months after the funding was secured in February 2021 and October 2022 from Argentum.
"We have witnessed how Impact Analytics' product suite provides their clients with a step-change in the way they manage retail planning, inventory allocation and pricing," Neil Kenley, director at Vistara Growth, said. "We are thrilled to partner with the company's founder and CEO, Prashant Agrawal, and the entire Impact Analytics team as they expand their offerings and onboard additional retailers and merchants looking to modernize their operations."
The funding round is intended to leverage the company's global expansion efforts and expand the reach of its Impact Analytics SmartSuite product portfolio.
Impact Analytics assists a catalog of renowned clients, which includes BJ's Wholesale Club, Dick's Sporting Goods, Puma and Tapestry with their planning and pricing workflow needs.
Impact Analytics “products process more than 30,000 modeling constructs to generate highly accurate forecasts that drive smarter decision making, improved operational efficiencies and maximized profits,” according to the press release.
The company was recently ranked in the top 100 on Fortune’s 2023 list of Most Innovative Companies in America, and deemed one of the fastest-growing American companies by The Financial Times for four consecutive years.
"We appreciate Vistara Growth's faith in our continuing success," Agrawal said. "AI- and machine learning-driven forecasting is an industry necessity. Company leaders recognize that the AI-led insights provided by our products enable their organizations to make swift, strategic actions with predictable—and predictably positive—results."
Impact Analytics specializes in SaaS AI-based solutions for supply chain and merchandise planning in retail, CPG and manufacturing. The company operates across North America.
“Impact Analytics is a proven leader in retail, CPG, manufacturing and supply chain-focused enterprise AI SaaS solutions,” the press release stated. “Its suite of products for planning, forecasting, merchandising and end-to-end lifecycle pricing is empowering leading retailers to make smart data-based decisions, transform their businesses and achieve substantial business benefits.”