2022 RTIH Innovation Awards winner HyperFinity raises investment from Snowflake Ventures
HyperFinity, a UK-based decision intelligence startup, has raised an undisclosed seed investment from Snowflake Ventures, the venture capital arm of data cloud company Snowflake.
HyperFinity, powered by Snowflake, enables retailers and CPGs to better understand customer behavior and needs, with clients including Costa, Asda, Card Factory, and Hotel Chocolat.
The investment comes after HyperFinity reached the finale of the 2022 Snowflake Startup Challenge, recognising it as one of the top three tech startups globally that is building software on Snowflake’s data platform.
Stefan Williams, VP of Corporate Development and Snowflake Ventures at Snowflake, comments: “As we reviewed hundreds of entries from companies building products and applications on Snowflake, HyperFinity stood out in how the platform aligns with our Retail Data Cloud partner strategy.’
‘Over the coming months we’ll work closely with HyperFinity as they build out their decision intelligence platform and continue with their already impressive client traction.”
HyperFinity became one of Snowflake’s Retail Data Cloud partners in September 2022.
The partnership is focused on accelerating a product roadmap for retailers, including modules to optimise retail media, pricing and promotions, supply chain demand forecasting and new data visualisation capabilities.
Peter Denby, Chief Commercial Officer at HyperFinity, says: “The retail market in 2022 was tough. Brands are experiencing skyrocketing costs; supply chains are under pressure and consumers are tightening their purse strings.”
“The future is uncertain and this latest investment from Snowflake Ventures is all about making sure our clients can use innovative technology to succeed.”
He adds: “Our decision intelligence platform, built on Snowflake’s best in class data platform, has never strayed from our founding principles – to put data science and technology in the hands of the people making decisions in retail businesses.”
“With no need for client-side coding or data scientists, we can deploy powerful technology quickly and that’s what matters in markets like this.”
2022 RTIH Innovation Awards
HyperFinity emerged victorious at the 2022 RTIH Innovation Awards last month, picking up the Startup of the Year (UK) gong.
Our 2022 winners were revealed at a sold out event in central London on Tuesday, 6th December.
RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognise standout examples through our awards.”
“Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”
“Congratulations to our 2022 retail technology hall of fame entrants.”
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