Retail analytics provider Askuity Inc. has received $2 million in Series A funding from dunnhumby Ventures, as well as a group of angel investors.
With the funding, Askuity will focus on expanding its presence in segments that include customers like Salvatore Ferragamo, Philips and Bauer. According to the company, it has grown revenue by more than 600% in the 2015 calendar year.
“Retailers are increasingly looking to their product suppliers to help them improve customer satisfaction and loyalty,” said Raphi Savitz, Portfolio Manager at dunnhumby Ventures. “In driving lower out-of-stock rates, optimized product merchandising and improved marketing effectiveness, Askuity is empowering the sales and marketing teams of smart product companies to become even more valuable partners for their retailer customers.”