Insite AI Raises $19 Million in Series A Funding; Plans to Improve Customer Onboarding and Expand Workforce

Human beings, since the beginning of time, have boasted many different capabilities, and yet the best thing you are likely to find in their bag is that tendency to grow under every possible situation. This tendency has notably allowed us to hit upon some huge milestones, with technology proving to be a major member of the stated squad. The reason why technology enjoys such an esteemed stature in our lives is largely predicated upon its unique set of offerings that introduced us to a reality we couldn’t have imagined otherwise. Nevertheless, if you really dig in and look beyond the surface, it becomes clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. This revolution, as we would find out, will scale up the human experience from every conceivable direction, but even after going so far, technology will somehow continue to bring the right goods to the table. This has only turned more and more evident on the back of our recent progression, and one recent funding does a lot to keep that trend alive.

Insite AI, a platform for consumer packaged goods companies that uses AI to provide recommendations on how to price, distribute and promote their products in physical stores, has successfully secured over $19 million in Series A financing. The round, which was led by NewRoad Capital and M12, Microsoft’s corporate venture arm, is expected to help the company in customer onboarding, while also funding the construction of an expert team so to design creative product initiatives and expand features. Founded in 2019, Insite AI started out with an intention to enable brands in regards to making product and inventory assortment and pricing decisions across retail stores, and it would do so using data derived from different retailers, sales, supply chains, and market outlets. Once all the relevant data has been collected, the company synthesizes it to create simulations for optimized assortment and trade promotion plans. These simulations end up giving the business a reliable forecast for each product, store, and day of the week, and as a result, they empower you to strike a much more profitable balance between demand and supply.

When quizzed regarding what sets Insite AI apart in such a competitive market, Shaveer Mirpuri, co-founder of the company, said:

“Consulting firms advising consumer brands tend to perform single engagements that are slow and costly. Existing category and revenue growth management tools from data providers are afterthought add-ons and lack predictive capabilities,” he said. “As consumer shopping behaviors, economic uncertainty and post-pandemic supply chain issues present new challenges for brands daily, the need for a fast, comprehensive category management solution is more important than ever,” Mirpuri said. “We are seen as [the] solution of choice.”

Currently, Insite AI is serving 10 of the world’s largest 30 consumer brands, a clientele that has propelled it to a level where it is managing more than $80 billion in revenue for its customers, making decisions for nearly 20 billion units of products. With such a monumental feat already in the books, a new cash injection can very well turbo-charge the company’s growth beyond all limits.

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