Insite AI, a Bentonville, Arkansas-based AI-driven category and revenue growth management solutions for top consumer brands, announced that it closed $19 million in Series A funding.
The round was from NewRoad Capital and M12, Microsoft's corporate venture arm.
This funding will be used to grow its team and expand its offerings to continue helping top consumer brands win by enriching collaboration with their retail channels.
"Large consumer brands have long been challenged by the time, cost, and debate involved in determining the best category, sales, and revenue management strategies," said Shaveer Mirpuri, co-founder of Insite AI. "Insite AI is the first technology that allows them to input target financial or commercial objectives and receive recommendations for capturing incremental ROI from sales, marketing, trade, and innovation investments."
Insite AI has tripled in revenue over the last 15 months and has operations in the USA, with satellite offices in New Zealand, Eastern Europe, and South America.
Company: Insite AI
Raised: $19.0M
Round: Series A
Funding Month: October 2022
Lead Investors: NewRoad Capital and M12
Additional Investors:
Company Website: https://insite.ai/
Software Category: AI-driven category and revenue growth management solutions
About the Company: Founded in 2019 by Shaveer Mirpuri and Jonathan Reid, Insite AI, is an AI-driven category and revenue growth management solutions for consumer brands. The company's advanced AI platform helps the world's top consumer brands intelligently make assortment, space, pricing, and promotion recommendations to improve retailer collaboration, increase revenue, and accelerate growth. Insite AI has numerous employees holding a PhD in AI. Its executives are industry veterans from well-known technology and consulting companies, including Revionics, Aptos, Dunhumby, Nielsen, DemandTec, SymphonyAI Retail, and retailers and brands, including Walmart, Pepsico, Target, Kroger, and Albertsons.
Source: https://www.prnewswire.com/news-releases/insite-ai-leader-in-consumer-brands-category--revenue-growth-management-solutions-lands-19m-series-a-funding-led-by-newroad-capital-and-m12-microsofts-venture-fund-301646102.html