Daash secures $5.5M in seed funding to support beauty-focused AI insights
Daash Intelligence, an AI-powered predictive commerce intelligence platform for retail brands, has secured $5.5 million in a second seed funding rounding.
With this latest investment, the company has been able to gather a total of $8.25 million to date, and its new investors include Bullpen Capital, GFT Ventures, Silicon Road Ventures and Red Bike Capital.
The company shared that it will utilize its new funding to scale its engineering and go-to-market teams, as well as accelerate product development to meet the demand for timely and actionable data insights that enable beauty brands to spot and leverage white space market opportunities.
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“Beauty is a fiercely competitive retail category and beauty and personal care brands need affordable data insights that help them understand market trends as they are occurring, not weeks or months later,” said Philip Smolin, co-founder and CEO of Daash Intelligence. “We’re extremely pleased to partner with this prestigious group of investors to provide beauty brands with a powerful early indication of where their market opportunities lie, so they can act quickly to take advantage of emerging trends and maximize their sales.”
Daash’s platform provides retailer-specific insights on updates across such categories as color cosmetics, skin care, fragrance, hair care and personal care, to help brands understand how they are performing against their full set of competitors.
The platform’s AI combines multiple data sources to generate sales and velocity estimates each week. Through these insights, the company looks to help brands gain visibility into what products and SKUs are gaining and losing share and why.
“Daash has seen phenomenal growth momentum since its launch and has more than doubled its client roster since announcing its initial funding round just over a year ago,” said Paul Martino, General Partner, Bullpen Capital. “The experienced team of co-founders identified a void in the commerce intelligence space and moved quickly to fill it, using AI to unlock the predictive insights midsized and smaller brands need to compete with even the biggest beauty behemoths.”
