By Riley Kaminer
If you’re a retailer – especially a smaller one – it’s almost impossible to know where you stand in comparison to your competitors. Who’s gaining market share? Who’s losing it? And what underlying factors are actually driving those trends?
New Miami startup Daash Intelligence aims to help retailers answer those questions and more through their data-driven predictive intelligence platform. The idea is that having this understanding will drive new product development, optimize marketing initiatives, and supercharge sales efforts.
Today, Daash announced that it has closed a $2.75 million seed round to make this platform come to life. Silicon Road Ventures and New Stack Ventures led the round alongside participants including Red Bike Capital, Willow Growth Partners, and OpenSky Ventures.
The company reports that this funding will enable it to improve the accuracy of its platform and scale its go-to-market initiatives in the CPG space. Daash is hiring for a wide range of positions including data scientists, inside sales specialists, and marketing managers.
“The response has been amazing with over 20 leading brands already licensing the platform, including Sacheu and Summer Fridays,” Philip Smolin, CEO and co-founder of Daash, shared in a statement. “By identifying emerging market trends and product performance earlier than other brands, they are creating a clear competitive advantage.”
Before founding Daash, Smolin spent most of his career at various B2B SaaS companies, including the better part of two decades at advertising platform Amobee (formerly Turn). Most recently, Smolin was Chief Platform Officer of 100.co, a Miami-based brand incubator. Daash itself was incubated at 100.co.
“Harnessing this technology was a game changer for our brands like Cay Skin and Juni Sparkling Tea,” commented 100.co CEO Kim Perell. “Daash can predict historical sales across competitors and spot emerging market trends with precision.”
According to Daash, its proprietary tech combines multiple data sources to produce insights in real time. While the largest brands and retailers already have access to these insights, smaller brands do not. Daash’s platform can help brands make decisions around product positioning, pricing strategies, market sizing, and inventory management.
Daash is far from the only Miami startup looking to infuse tech and data analytics into the world of retail. Just to name a few: OpenStore has reached a valuation of $970M through its tech-fueled solution for buying and managing Shopify stores. Miami’s Fashom has partnered with local retailers, using AI tech to enhance fashion sustainability. And MAVI is pioneering an in-car shopping platform.
READ MORE IN REFRESH MIAMI:
- What will be the next big brand? Keep an eye on what Kim Perell’s 100.co is building, with help from AI
- Your order? “OnMyWay!” thanks to MAVI’s in-car shopping solution
- Miami’s Fashom partners with local retailers, using AI tech to enhance fashion sustainability
- Miami’s next unicorn? OpenStore closes $32M funding round at $970M valuation
