HyperFinity raises investment from Snowflake Ventures to drive growth for data-hungry retailers
HyperFinity, the Leeds-based decision intelligence business, announced it has raised a seed investment from Snowflake Ventures, the venture capital arm of Snowflake, the Data Cloud company. The funding will further HyperFinity’s growth trajectory in the retail and consumer goods space.
HyperFinity, Powered by Snowflake, enables retailers and CPGs to better understand customer behavior and needs, optimizing their commercial decisions to maximize revenue and profit. The business sports a portfolio of clients including Costa, Asda, Card Factory, and Hotel Chocolat.
The investment from Snowflake Ventures comes after HyperFinity reached the finale of the 2022 Snowflake Startup Challenge; recognized as one of the top three tech start-ups globally that is building software on Snowflake’s industry-leading data platform. Snowflake’s subsequent investment will allow the decision intelligence platform to evolve quickly, in line with the needs of its impressive retail client portfolio.
Stefan Williams, VP of Corporate Development and Snowflake Ventures at Snowflake, commented: “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 optimize retail media, pricing & promotions, supply chain demand forecasting and new data visualization capabilities. With third-party cookies becoming redundant, the former module provides retailers with compelling analysis of first-party data to unlock new revenue and profit streams.
HyperFinity was founded by Peter Denby, Adam Barrowcliff, Damon Bryan, and Thomas Hill. The team continues to work on numerous analytical projects designed to help brands “sell the right products, to the right people, at the right price.” The company chose to set up in Leeds, which is becoming a thriving hub for technology businesses.
Peter Denby, Chief Commercial Officer at HyperFinity commented: “The retail market in 2022 is 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.
“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.”
