Harmonya Raises $20M Series A Funding

by

Harmonya, a software company specializing in AI-powered product data for the consumer packaged goods (CPG) and retail sectors, has successfully raised $20 million in a Series A funding round, bringing its total funding to $25 million.

The funding round was led by Bright Pixel Capital and featured participation from existing investor Team8, along with Arc Investors, J Ventures, Silicon Road Ventures, Allen & Company, LiveRamp Ventures, and Susa Ventures.

These funds will be utilized to further advance Harmonya’s proprietary generative AI technology, enhance its suite of tools, and expand its go-to-market operations.

Traditional product data infrastructure used by major retailers and CPG firms relies on outdated, static data models that lack a detailed understanding of individual products. Harmonya aims to address this challenge by offering an AI-powered product data enrichment, categorization, and insights platform for retailers and brands. Leveraging cutting-edge generative AI and large language models, Harmonya dynamically extracts product attributes from diverse sources.

This enables users to identify consumer drivers of market performance, discover category insights, optimize assortment and merchandising, guide innovation, and automate product coding.

“When a new consumer trend emerges, like Sustainability or Wellness, CPGs and retailers need to go over all of their existing products after the fact and manually add attributes to each,” explained Cem Kent, CEO and Co-Founder of Harmonya. “This limits their ability to quickly identify and respond to emerging consumer preferences, power accurate demand forecasting, and create tailored shopping experiences.”

The company’s proprietary technology processes data from millions of online product listings, generating unique tags from titles, descriptions, ingredients, consumer reviews, and more. It also relies on a large-language model specifically trained on retail data.

Harmonya serves several top global CPG companies and major US retailers, with its customer base growing substantially in the first half of the year. The platform assists both headquarters data teams and customer teams working directly with merchants and buyers.

Harmonya’s vision is to bridge the gap between legacy product data, which lacks descriptive and diagnostic power, and the modern need for a dynamic product language to facilitate more impactful analytics and decision-making. The company’s recent funding round, led by Bright Pixel Capital, reflects its potential to transform data approaches in the retail and CPG industries and drive value through modern AI-powered data processing.

Related Stories

Latest News Stories

Discover more from Silicon Valley Journals

Subscribe now to keep reading and get access to the full archive.

Continue reading