Datavations has secured $17 million in Series A funding led by Forestay Capital to enhance its AI-driven intelligence services for the building materials and home improvement industries.

Information on the Target

Datavations is a New York-based retail intelligence firm that leverages data and artificial intelligence to provide analytical solutions for the building materials and home improvement sectors. The company has successfully closed a Series A funding round, securing $17 million in equity financing. This funding round was led by Forestay Capital, with additional contributions from Morpheus Ventures and existing investors including Sage Venture Partners and Nevcaut Ventures. Notable business figures such as Rusty Reed, former CFO of Procore Technologies, and Travis May, founder of LiveRamp and Datavant, also participated in this funding effort.

The newly raised capital will be instrumental in enhancing Datavations' operations, allowing the firm to scale its team and further develop its product offerings. Moreover, this financial boost will enable the company to expand its reach across North America while reinforcing its client relationships. Datavations' platform harnesses advanced machine learning and AI technologies to transform extensive datasets into actionable insights, helping manufacturers optimize their pricing, inventory, and product assortments.

Industry Overview

The building materials and home improvement industry is poised for significant transformation due to the integration of data-driven solutions. Traditionally reliant on historical data and subjective assessments, the sector faces an urgent need