Member Article

Eight-figure funding round for DynamicAction as it pairs up with Accenture

London-based retail analytics firm DynamicAction has announced that it has secured $15m (approx. £11.2m) in its latest funding round as it enters into a strategic partnership with a major global services firm.

Lead investors in the round included Accenture and Scotland-based West Coast Capital, who have previously invested in the advanced analytics business.

Founded in 2008, DynamicAction, which also has an office in Dallas, provides artifical intelligence-led analytics through its Software as a Service (SaaS) platform, helping retailers such as Tesco with a suite of big data analytics tools and services.

This new funding round sees Accenture, through its Accenture Ventures VC arm, take a minority stake in the business and means the global firm will become a reseller and service provider for DynamicAction’s tech.

Jill Standish, who is global managing director of Retail at Accenture said that the investment will assist the firm in helping its clients become ‘more agile’ in the competitive retail environment.

She said: “Our investment in and alliance with DynamicAction is unique, as it brings together Accenture’s deep retail delivery capabilities with a cloud-based analytics firm that is solely based on profit optimization.

“The more challenging this market becomes, the more critical it will be for retailers to operate with the agility and speed of an industry leader like Amazon.

“DynamicAction’s solution focuses on the retailer’s most pressing needs, which are to increase full-price sales, improve margins, curb the discounting addiction and capitalize on demand.”

DynamicAction has enjoyed significant success in recent years, with its big data and analytics solutions assisting retailers with stocking levels and merchandising.

It claims to have helped its top five retail clients achieve 91% full price sell last year, and has experienced 172% revenue growth year-on-year.

John Squire, Chief Executive Officer of DynamicAction commented: “As we look to the future of big data in retail, Accenture and West Coast Capital have proven themselves as the frontrunners and trusted navigators of retail innovation.

“This investment and alliance partnership with Accenture allows us to help the world’s largest retailers navigate the troubled waters of modern day retail.”