Drivepoint Raises $9 Million to Advance AI-Driven Retail Finance Tools
Drivepoint, an AI-powered financial platform focused on consumer brands, has secured over $9 million in new funding to accelerate product development and expand its market reach. This includes a $7 million Series A round led by Vocap Partners, combined with earlier undisclosed investment from 2024.
Existing investors such as Bling Capital, Vinyl VC, Las Olas Venture Capital, and Jefferies’ Family Office participated again. New investment came from Good Friends VC, founded by the creators of Allbirds, Harry’s, and Warby Parker, with Allbirds co-founder Joey Zwillinger personally leading the round.
What Drivepoint Does
Drivepoint enhances financial decision-making for retail and consumer brands by blending spreadsheet familiarity with deep retail data integration and AI forecasting. Its platform empowers finance teams to model scenarios, plan, and make decisions in real-time, improving forecast accuracy and strategic planning.
The company plans to use the funds to speed up AI development, especially in forecasting, variance analysis, and decision intelligence. It will also grow its sales and marketing operations to meet rising demand from mid-market and enterprise clients.
Customer Impact
Drivepoint’s platform is already in use by brands like Curology, True Classic, and Simple Modern. Other customers such as Graza, Oats Overnight, and Dose credit Drivepoint with boosting financial performance, including EBITDA growth and improved gross margins.
Investor Perspectives
Emery Waddell, partner at Vocap, said, “Drivepoint is quickly becoming the go-to solution for intelligent finance in retail. Forward-thinking brands are already using it to run their finance operations. Given the company’s innovation, expertise in consumer brands, and proven customer ROI, wider adoption among enterprise players is imminent.”
Joey Zwillinger, partner at Good Friends and co-founder of Allbirds, added, “Drivepoint solves a clear problem I’ve encountered as both an operator and investor. Their combination of AI and human insight gives operators unmatched financial clarity, optimizing inventory and marketing spend. The customer feedback we gathered was among the strongest I’ve seen.”
Company Outlook
Drivepoint CEO and co-founder Austin Gardner-Smith commented, “This funding milestone confirms our vision and the value we deliver. On average, customers see a 6.7% increase in EBITDA within their first year, significantly enhancing enterprise value. The new capital will help us scale these benefits and support more brands in growing with confidence.”
For finance and product development professionals looking to deepen their knowledge of AI tools in retail finance, exploring relevant training can be valuable. Resources such as AI tools for finance offer practical insights on leveraging AI to improve financial outcomes.
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