Bengaluru-based retail SaaS startup, Impact Analytics, has raised $40 million in a growth financing round led by US-based investment firm Sageview Capital. Existing investor Vistara Growth also participated in the funding round. The fresh capital will be allocated to expanding the startup’s sales, marketing, and customer service teams globally. Additionally, the funds will be used to enhance its technology platform, strengthen AI capabilities, foster strategic partnerships, and explore future growth opportunities.
Founded in 2015 by Prashant Agrawal, Impact Analytics specializes in AI-based SaaS solutions tailored for enterprise clients in retail, manufacturing, and supply chain. The startup’s suite of SaaS tools encompasses planning, forecasting, merchandising, and end-to-end lifecycle pricing, enabling enterprises to streamline retail operations efficiently.
As part of the investment deal, Sageview Capital partner Jeff Klemens and senior advisor Prashanth Palakurthi will join Impact Analytics’ board of directors. Prashant Agrawal, the founder and CEO, expressed gratitude for the strategic partnership with Sageview and Vistara, emphasizing the valuable experience that Palakurthi and Klemens bring to the startup.
The latest funding round follows Impact Analytics’ Series B funding in 2022, where it secured $10 million from Argentum Capital Partners. In 2021, the startup raised $11 million in a Series A funding round led by Argentum Capital Partners. Impact Analytics counts renowned brands such as Ralph Lauren, Calvin Klein, P&G, and Van Heusen among its clientele.
The Indian enterprise tech sector remains an attractive destination for both domestic and global investors. Leveraging India’s skilled talent pool and innovative ecosystem, SaaS startups are developing products for both global and local markets. Last year, enterprise tech emerged as the third-most funded sector, with startups in the sector raising $1.3 billion across 157 deals.
In the same vein, B2B SaaS platform Kapture CX recently closed its Series A funding round, securing $4 million from India Alternatives. Another SaaS platform, Finayo, raised INR 16 crore in a mix of debt and equity from various investors, including NBFC F Mec International Financial Services, Choice Finserv, and India Accelerator.
A report indicates that the global SaaS industry is projected to reach a market size of $908.21 billion by 2030 as more enterprises embrace digital tools.
