Insite AI Raises $19M in First Funding Round

Insite AI of Bentonville on Tuesday announced it had raised $19 million in its first capital funding round.

Lead investors in the round were NewRoad Capital Partners LLC of Rogers and M12, Microsoft’s venture capital fund. 

Insite’s advanced AI platform helps consumer brands create assortment, space, pricing and trade promotion strategies to improve retailer collaboration, increase revenue, and accelerate growth. The company said its revenue has tripled over the past 15 months.

Iniste was founded in 2019 by Shaveer Mirpuri and Jonathan Reid. It currently has operations in the U.S., with satellite offices in New Zealand, Europe and South America.