Askuity Inc., a Toronto, Canada-based provider of retail analytics software that enables product companies to grow and optimize their retail business, closed $2m Series A funding round.
Backers included existing investor dunnhumby Ventures, the venture investing arm of dunnhumby, and a group of angel investors with retail and consumer goods experience.
The company intends to use the funds to accelerate sales and marketing efforts in both new and existing markets.
Led by Eric Green, CEO and co-founder, Askuity is a retail analytics platform that combines cloud-based big data processing with analytics and mobile technology to enable product companies to grow and optimize their retail business (in terms of sales, marketing and supply chain) both in store and online outcomes. Askuity automatically collects and harmonizes multiple, disparate point-of-sale and inventory data sources – whether from retailer portals, EDI or spreadsheets – into a single view of a product company’s retail business.
Customers include brands, such as Philips®, Salvatore Ferragamo®, Bauer®, PetSafe®, Broan-NuTone®, and Ingersoll Rand®.