San Francisco, USA-based leading fintech company and owner of the Helio insights engine, CircleUp is acquired by USA-based financial data and intelligence platform empowering small businesses to take control of their cash flow and make data-backed decisions, Brightflow AI. The company announced the acquisition on June 2, 2023. However, it did not disclose the amount of the acquisition.
Purpose of acquisition by Brightflow AI
The latest acquisition results in the integration of CircleUp’s data and machine learning capabilities with Brightflow AI financial intelligence toolkit to create a comprehensive solution for consumer companies that need help growing their businesses.
Meanwhile, Helio’s descriptive, predictive and prescriptive analytics and extensive data further provide Brightflow AI’s customers with insights into their target markets. It also adds to Brightflow AI’s current capabilities that help customers manage their cash flow and make better decisions about their finances.
What the CircleUp official has to say
Ryan Caldbeck, Chairman and Founder of CircleUp, 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.”
In addition, Rory Eakin, Founder of CircleUp, 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.”
What the Brightflow AI’s official has to comment
Robbie Bhathal, CEO and co-founder of Brightflow AI, further added, “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.”
Rory Eakin and Ryan Caldbeck in 2012 launched CircleUp. The Fintech company leverages machine learning and a tremendous amount of data to find and evaluate consumer companies. CircleUp harnesses the power of data in order to equip emerging consumer brands with capital and resources. The company’s proprietary technology platform, Helio, brings the data-driven revolution that occurred in the public markets to the private markets – starting with consumer & retail.
The company supplied more than USD 1 billion in capital to over 500 consumer companies. Giants such as Beyond Meat, Supergoop!, Nom Nom Now, Liquid I.V., SmartyPants, Function of Beauty, Kitu Life, Halo Top, Nutpods and others are recipients of the capital. Leading investors such as Union Square Ventures, TPG, Temasek, and Rose Park Advisors back the company.
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