Funds for Retail Analytics Firm Askuity

Retail analytics specialist Askuity has closed a $1.8m seed round of funding from a group of investors including investment division dunnhumby Ventures.

Askuity offers a big data analytics platform giving retailers and manufacturers access to automated POS data combined with analytics tools and mobile technology. Through the platform, users can reduce out-of-stocks, optimize assortments, measure the ROI of promotional programs, and improve understanding of their customers and their market.

New funds come from retail analytics giant dunnhumby's seed-stage investment fund dunnhumby Ventures, which was set up last September to support innovations in retail technology. MaRS Investment Accelerator Fund and a group of angel investors also participated in this round.

Eric Green (pictured), Askuity CEO, comments: 'We're thrilled to add these great investors to our team as we pursue our mission of transforming how retailers and vendors manage their joint business. dunnhumby brings us a wealth of retail analytics expertise as well as a network of leading retailers and product manufacturers who would benefit from Askuity. And MaRS IAF has backed some great technology success stories - we're honored to be a part of their impressive portfolio.'

Web site: www.askuity.com .