San Francisco, Calif., June 01, 2023 (GLOBE NEWSWIRE) -- Brightflow AI, the financial data and intelligence platform that empowers small businesses to take control of their cash flow and make data-backed decisions, today announced the acquisition of leading fintech company CircleUp, allowing Brightflow AI to deepen customer insights and strengthen artificial intelligence using the Helio insights engine to better serve online and offline brands.
Helio tracks 1.6M+ brands and 16M attributes across 200+ data sources and 4PB of data to provide the most comprehensive insights on emerging brands and trends in consumer packaged goods (CPG). Brightflow AI will integrate the Helio data repository to promote the efficacy of its own data platform as it builds the most robust AI-powered financial insights tool in the industry. Terms of the deal were not disclosed.
“Brightflow AI provides equitable access to data and growth opportunities to the everyday business owner,” said Robbie Bhathal, CEO and Co-founder of Brightflow AI. “By acquiring CircleUp’s Helio platform, we’re able to deepen our data, machine learning, and analytics capabilities, strengthen our own financial intelligence platform, and provide our customers with the most comprehensive solution available.”
Today, 82% of small businesses fail due to cash flow complications, according to a study by U.S. Bank. Brightflow AI prevents small business owners from being blindsided by their finances and delivers the forecasts, analyses, and recommendations brands need to make strategic adjustments in real time for sustainable growth. The Helio data platform will strengthen Brightflow AI’s machine learning algorithms, which it uses to build its cash flow forecasts, cash management tools, and underwriting analyses.
"We are excited to create a new standard for financial intelligence for consumer companies," said Ryan Caldbeck, Chairman and Founder of CircleUp. "The acquisition by Brightflow AI allows us to provide customers with the data, insights, and tools they need to grow their businesses faster and more efficiently."
“Our mission is to help entrepreneurs to thrive by giving them the capital and resources they need. The acquisition by Brightflow AI is a positive step forward for CircleUp and the industry,” said Rory Eakin, Founder of CircleUp.
Small business owners can access Brightflow AI’s financial data and intelligence platform, including its cash flow forecasting and business credit scoring tools, by signing up for a free Brightflow AI account. To learn more, visit: https://www.brightflow.ai.
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About Brightflow AI
Brightflow AI is a financial data and intelligence platform empowering small businesses to take control of their cash flow. Brightflow AI offers modern financial tools to give business owners real-time visibility into their cash flow, revenue, demand forecast, profitability, return on ad spend (ROAS), and customer lifetime value (LTV) data. Brightflow AI helps qualifying companies unlock capital to fund their growth. Supported by a team of data scientists, financial analysts, and engineers, Brightflow AI seamlessly integrates omnichannel financial data to give eCommerce business owners the financial resources they need to succeed. Brightflow AI is backed by investors such as Haymaker Ventures, Bonfire Ventures, SBI Group, Greycroft, House Fund, Skydeck, New Fund, and Lynett Capital. To learn more, visit www.brightflow.ai.
About CircleUp
CircleUp is a leading fintech company that uses machine learning and a tremendous amount of data to find and evaluate consumer companies.CircleUp harnesses the power of data to provide capital and resources to emerging consumer brands. With its proprietary technology platform, Helio, CircleUp is bringing the data-driven revolution that occurred in the public markets to the private markets – starting with consumer & retail. Helio algorithmically finds, classifies and evaluates private companies to power more objective and efficient decision-making. CircleUp is backed by world-class investors including Union Square Ventures, GV, Canaan Partners, QED Advisors, TPG, Temasek, Rose Park Advisors, and others. The company is headquartered in San Francisco, California.
