Point of Sale Enablement Software Provider Askuity Closes Funding Round

Askuity Inc., the fastest growing retail sales enablement software platform provider for consumer product companies, today announced the closing of a growth funding round of $3MM to fuel its rapid expansion.

Askuity has quickly established itself as the preferred solution for the world’s leading consumer product brands across multiple product categories and retail channels. Askuity will use this new funding to expand functionality of its software platform to help industry-leading customers such as Bosch, Philips, Anastasia Beverly Hills, and Drybar to drive sales and margins in their retail channels.

“Retail is changing faster than ever and Askuity’s rapid growth is a testament to the market need for this timely solution. Askuity is the right solution for the growing number of forward-thinking brands who want to drive data-driven execution jointly with their retailers to win with the consumer,” said Kyle Fugere, Innovation at dunnhumby, an investor in Askuity.

In the competitive retail market, retailers are increasingly looking to their product suppliers to help them improve customer satisfaction and loyalty. 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.

“We’re thrilled to have this additional investment to enable us to accelerate our product vision of being the core sales enablement solution for the consumer product industry’s leading retail teams. We’re focused on delivering a full suite of insight-driven applications that power our customers’ sales, marketing and supply chain teams with the actionable retail intelligence uncovered in the growing amounts of retail data available to them.” remarked Eric Green, co-founder and CEO of Askuity.

Askuity’s retail-ready software platform enables product companies to make better use of the rich point-of-sale data that they receive from retailers. This data stream is the pulse of a product company’s retail business as it provides a detailed view of how their products are performing, where and why. The challenge that all product companies – regardless of size, channel or market – face, however, is how to turn this ever-increasing flow of downstream point-of-sale data into actionable insights that help them improve their retail business.

Askuity automatically collects and harmonizes multiple, disparate retail data sources into a single, comprehensive view of a brand’s business. In future releases, Askuity’s platform will integrate advanced machine learning and AI capabilities to help brands understand the “why” behind their data and to enable them to be proactive in getting ahead of issues and opportunities with their retailers.

With retail buyers increasingly strapped for time and under pressure to deliver in a competitive, omni-channel world, this expectation of partnership between retailer and brand has become the norm. And with more and more data being shared between retailers and brands – point of sale data, loyalty data, demographic data – brands are finally data-enabled to be that partner by using Askuity.

About Askuity
Askuity’s industry-leading sales enablement platform empowers the world’s brands to turn retail data into profitable insights that help grow sales, improve margins and strengthen retail relationships. With a rapidly expanding client base across leading and emerging consumer goods brands, Askuity helps companies of all sizes optimize their retail business and lead their categories.

Askuity – See What’s in Store. For more information, please visit http://www.askuity.com.

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