The Daash platform provides weekly retailer specific updates for colour cosmetics, skincare, fragrance, haircare, personal care and other brands seeking to understand how they are performing compared to their competitors.
Daash Intelligence, an AI-powered predictive commerce intelligence platform for retail brands, has secured $5.5 million in a second seed funding round, bringing its total funding to date to $8.25 million.
New investor Bullpen Capital led the round, with participation from GFT Ventures as well as from returning backers Silicon Road Ventures and Red Bike Capital.
Daash will use the cash to scale its engineering and go to market teams and accelerate product development to meet demand for timely, actionable data insights that enable beauty brands of all sizes to spot and leverage white space market opportunities.
“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 at 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 maximise their sales.”
The Daash platform provides weekly retailer specific updates for colour cosmetics, skincare, fragrance, haircare, personal care and other brands seeking to understand how they are performing compared to their competitors.
The platform’s proprietary AI combines multiple data sources to generate sales and velocity estimates each week. By highlighting how key metrics shift over time, Daash solves one of beauty brands’ perpetual challenges – gaining visibility into what brands, products and SKUs are gaining and losing share and why – enabling them to make better data driven decisions and optimise performance.
“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.”
“We love the holistic view of the skincare landscape and having access to the market data down to SKU-level stats across all categories,” said Sarah Lee, Co-CEO and Co-founder at Glow Recipe. “Having a good grasp of the context of our growth and the market’s growth, along with insights into product and ingredient trends, is super helpful as we roadmap our product pipeline and continue on our strong growth trajectory.”
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