Daash Intelligence™, the predictive intelligence platform for retail markets, has closed its $2.75M seed investment round. Silicon Road Ventures led the round with New Stack Ventures, with participation from Red Bike Capital, Willow Growth Partners and OpenSky Ventures. First developed within technology and brand incubator 100.co, Daash notches a significant milestone with this funding as it aims to transform the commerce intelligence industry through targeting eCommerce, brick & mortar, and direct-to-consumer (DTC) channels.
Daash addresses the fundamental challenge of transparency across the retail landscape. Brands often struggle to obtain actionable insights into competitive products, sales performance, and market share information. This lack of visibility is a critical issue that affects brands across the board.
To tackle this problem, Daash Intelligence has developed proprietary technology that empowers brands with insights around their market dynamics. Brands using Daash can now identify which competitors are gaining or losing market share and understand the underlying factors driving these trends. Brands are using Daash to inform their new product development, fine-tune marketing strategies, and optimize their channel sales efforts.
What differentiates Daash is its proprietary technology, which combines multiple data sources to produce insights in real time. "Harnessing this technology was a game changer for our brands like Cay Skin and Juni Sparkling Tea," said Kim Perell, CEO of 100.co. "Daash can predict historical sales across competitors and spot emerging market trends with precision."
With this funding, the company will continue to improve the accuracy of its predictive intelligence platform and scale their go-to-market efforts across multiple CPG categories.
Daash firmly believes that commerce intelligence is no longer a luxury, but a mission-critical asset for consumer brand operators. The largest brand conglomerates already rely on commerce insights to guide their product positioning, pricing strategies, market sizing, and inventory management. Daash enables the harnessing of new data sources to make real-time insights possible for every CPG brand.
"The response has been amazing with over 20 leading brands already licensing the platform, including Sacheu and Summer Fridays." said Philip Smolin, CEO and co-founder of Daash. "By identifying emerging market trends and product performance earlier than other brands, they are creating a clear competitive advantage."
Ross Kimbel, Managing Director & Partner at Silicon Road Ventures (SRV) added, "At SRV we invest in commerce-enabling technologies which are transforming and accelerating the commerce landscape. Daash is revolutionizing the intelligence which powers this industry, and we're thrilled to be a partner with them on the journey."