The acquisition will combine CircleUp’s data and analytics capabilities, including Helio platform that algorithmically identifies, classifies and evaluates private companies, with Brightflow AI’s financial intelligence platform to help consumer companies
Brightflow AI acquires CircleUp. (Credit: Glenn Carstens-Peters on Unsplash)
Brightflow AI, a financial data and intelligence platform helping small businesses, has acquired US-based financial technology company CircleUp for an undisclosed sum.
CircleUp is a fintech company that leverages machine learning and large of data to provide capital and resources to emerging consumer brands.
The company has developed the Helio insights engine, its technology platform that provides descriptive, predictive, and prescriptive analytics and extensive data.
Helio algorithmically identifies, classifies and evaluates private companies to facilitate more objective and effective decision-making.
The acquisition will combine CircleUp’s data and machine learning capabilities with Brightflow AI’s financial intelligence toolkit to help consumer companies grow.
CircleUp chairman and founder Ryan Caldbeck said: “We are excited to create a new standard for financial intelligence for consumer companies.
“The acquisition by Brightflow AI allows us to provide our customers with the data, insights, and tools they need to grow their businesses faster and more efficiently.”
CircleUp founder Rory Eakin said: “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.”
CircleUp said that its Helio platform will provide Brightflow AI’s customers with insights into their target markets, help manage their cash flow and make better decisions about their finances.
The company’s data and analytics platform is being used by founders, investors, lenders, and consumer companies to make better data-informed decisions.
CircleUp claims that it has supplied more than $1bn in capital to over 500 consumer companies.
The companies include Beyond Meat, Supergoop!, Nom Nom Now, Liquid I.V., SmartyPants, Function of Beauty, Kitu Life, Halo Top, Nutpods and others.
Brightflow AI offers financial tools to give business owners real-time visibility into their cash flow, revenue, demand forecast, profitability, return on ad spend, and customer lifetime value data.
Brightflow AI CEO and co-founder Robbie Bhathal said: “Brightflow AI provides equitable access to data and growth opportunities to the everyday business owner.
“By acquiring CircleUp, 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.”