US-based retail analytics producer DynamicAction raised $15m yesterday from investors including professional services firm Accenture and West Coast Capital, an investment vehicle for entrepreneur Tom Hunter.
DynamicAction has built an analytics platform for retail merchandising that identifies factors in a business that are cutting into profit margins, provides suggestions and ranks those options by financial impact. Customers include Brooks Brothers, Tesco, Nine West and Cole Haan.
Accenture, supplied its share of the round alongside an agreement that will involve it becoming a reseller and service provider for DynamicAction’s software. It invested through its corporate venturing unit, Accenture Ventures.
Jill Standish, Accenture’s global managing director of retail, said: “Our investment in and alliance with DynamicAction is unique, as it brings together Accenture’s deep retail delivery capabilities with a cloud-based analytics firm that is solely based on profit optimisation.
“DynamicAction’s solution focuses on the retailer’s most pressing needs, which are to increase full-price sales, improve margins, curb the discounting addiction and capitalise on demand.”