Retail Software-as-a-service firm Impact Analytics has raised $40 million in growth financing led by American investment firm Sageview Capital, nearly 15 months after its Series B round.
As part of this deal, Jeff Klemens, partner and Prashanth Palakurthi, senior adviser at Sageview Capital will join the company’s board of directors, the company said in a statement on Tuesday.
Canadian firm Vistara Growth also participated in the round, along with Palakurthi, who will be in his investing personal capacity.
The Maryland and Bengaluru-based company plans to use the capital to expand its team in India, while also growing its sales, marketing, and customer service functions across other geographies. The company has presence in Europe, the Middle East and Africa, Asia Pacific and Latin America region.
“Sageview Capital partners with proven companies that leverage disruptive technologies and that have an understanding of their customers’ business challenges and objectives,” said Jeff Klemens at Sageview Capital, which manages about $2 billion in assets.
“Impact Analytics excels as a pioneer in their space,” he added.
Founded in 2015, Impact Analytics offers solutions in the retail, consumer-packaged goods, manufacturing and supply chain sectors, allowing them to make pricing decisions, forecast trends, and merchandise their offerings through its SaaS offerings.
The company last raised $10 million (around Rs 82.6 crore) as a part of its Series B funding round from its existing investor Argentum Capital Partners in October 2022. Prior to that, in February 2021, Impact Analytics raised $11 million in a Series A investment round led by Argentum Capital Partners.
"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 CEO Prashant Agrawal.
