Insite AI raises $19M to help consumer brands figure out their in-store strategies

Insite AI, a platform for consumer packaged goods companies that uses AI to provide recommendations on how to price, distribute and promote their products in physical stores, today launched out of stealth with $19 million in Series A capital from NewRoad Capital and M12, Microsoft's corporate venture arm. Co-founder Shaveer Mirpuri says that the funding will be put toward customer onboarding, building a team of industry experts to help shape product initiatives and an expanded feature set. Mirpuri and Jonathan Reid co-launched Insite with the belief there was a large addressable market for brick-and-mortar sales revenue growth management software. It's true retailers -- and by extension, brands -- face considerable challenges in this area, particularly as the economy takes a precipitous turn. According to NPD, more than 80% of U.S. consumers said in May that they'd rein in product spending within the next three to six months.