- Daisy Intelligence recently announced it raised CAN$10 million in Series A financing from Framework Venture Partners and Sonae IM
Daisy Intelligence recently announced that it raised CAN$10 million in Series A financing led by Framework Venture Partners and European-based corporate investor Sonae IM. This round of funding will enable Daisy to expand globally, invest in sales and marketing, provide further support for its customer success teams, and expand its operational infrastructure as growth demands.
The company’s AI-powered technology platform helps retailers and insurance companies generate significantly improved financial results by delivering business recommendations and automating complex processes beyond human capability. With its core AI SaaS platform, Daisy is disrupting the retail industry through its intelligence and automation to merchandising decisions.
And Daisy has helped its retail clients increase year over year, same-store sales an average of 2.9% by optimizing their promotional product and pricing mix. Plus Insurance companies use Daisy’s AI-powered risk management platform to detect and avoid millions of dollars in fraud and automatically adjudicate claims.
“This financing round reflects the growing interest in our AI-powered platform from companies around the world looking to drive higher sales and profits with our unique technology that helps them make business decisions,” said Daisy founder and CEO Gary Saarenvirta. “This investment supports Daisy’s mission to empower people to achieve their best by using machine intelligence to help them with the most difficult tasks, freeing up their time to focus on more strategic business matters. With support from the world-class investors at Framework and Sonae IM, we are incredibly well-positioned to execute on our vision.”
Daisy has been attracting a rapidly growing client base across the U.S., Canada, Latin America, and Europe based on a record of proven business results. And over the past year, Daisy has doubled its revenues and staff by adding new clients and further deepening existing relationships with retailers and insurance companies.
“There is a lot of vaporware and broken promises in the AI startup landscape,” added Peter Misek, a Founding Partner at Framework Venture Partners. “After meeting hundreds of startups, Daisy was the first we met where we felt the promise could be delivered.”
The investment in Daisy is one of the first from Toronto-based Framework Venture Partners’ new $150 million fund focused on supporting rapidly growing tech companies in Canada and abroad. And Framework invests in software companies with a focus on businesses reimagining the consumption and delivery of financial services or applying artificial intelligence solutions to large industry-specific datasets.
“Daisy Intelligence attracted our attention with its distinctive AI capabilities applied to merchandising, which is definitely a crucial activity within grocery retail. As a strategic investor with a strong European foothold, we have the ambition to support the company, with every means possible, in its growth and global expansion,” explained Eduardo Piedade, the CEO of Sonae IM.
