Iris Finance Secures $6.2M to End Month-End Waits with AI CFO Platform for CPG Brands

Iris Finance Raises $6.2M to Scale AI-Native CFO Platform for CPG Brands

Iris Finance secured $6.2M in seed funding to scale its AI-native FP&A platform for companies that sell physical products. The round was led by Glasswing Ventures with participation from Founder Collective, Hyde Park Angels (HPA), and existing investors Revolution's Rise of the Rest Seed Fund, Barrel Ventures, and Rosecliff Ventures.

Launched in mid-2024, Iris has onboarded hundreds of CPG brands and reached millions in ARR. The capital will accelerate product development, address the gap created by month-end close latency, support a growing customer base, and expand go-to-market efforts.

Why this matters for finance leaders

Physical product businesses run on thin margins and tight cash cycles. Cash flow mismanagement contributes to 82% of small business failures, and 70% of SMBs hold less than four months of cash reserves.

Most FP&A functions for CPG suffer from fragmented data across sales, ads, ERP, 3PLs, and marketplaces. When finance teams wait for end-of-month accounting to make decisions, they miss real-time signals on margin, demand, and working capital.

What Iris does

Iris aggregates sales, marketing, accounting, and supply-chain data into a CPG-focused database called Iris DB. It connects to systems such as Shopify and Amazon, NetSuite and third-party logistics providers, plus channels like TikTok and Google Ads. Data is normalized and enriched so teams get decision-ready visibility in minutes, not months.

The platform comes with pre-configured connectors and verticalized data definitions, removing the need for ETL pipelines, data warehouses, BI dashboards, and separate planning tools. For smaller brands, Iris can also substitute for fractional CFOs.

Core capabilities

• Machine learning financial modeling with real-time P&L visibility
• Profitability and margin tracking by customer, retailer, and SKU
• Weekly cash flow forecasting and demand prediction
• AI-enabled benchmarking across companies to spot improvements in costs, margins, and marketing mix
• "Fin," an AI agent that lets finance teams query data, build scenarios, and surface insights without spreadsheets or traditional BI

What changes for FP&A

Iris replaces manual spreadsheet stitching with an always-on, SKU- and channel-aware model. Teams can see true gross margin and contribution after ad spend by retailer or DTC channel, run weekly cash and demand updates, and tighten working capital decisions without waiting for month-end.

The vertical, full-stack approach reduces software sprawl and analyst hours. Finance leaders get faster scenario planning, clearer margin waterfalls, and tighter S&OP alignment.

Founding team

The team brings deep CPG, data, and security experience. Drew Fallon (CEO) was previously COO/CFO at high-growth CPG brand Mad Rabbit. Alexander Heckmann (COO), a founding team member at Clean.io (acquired by HUMAN), brings compliance expertise for sensitive financial data. Marko Iwanik (CTO) has built platforms for sensitive federal government applications, combining product and engineering with finance outcomes.

Funding use

New capital will advance Iris DB and its applications to reduce the latency gap between daily operations and month-end accounting. The company will also scale customer support for the growing base of CPG brands and expand sales and partnerships.

From the team: "Inventoried business models have a very unique challenge in that you have multiple products, all with different margin profiles, selling in sometimes dozens of different places. This makes it hard to understand how profitable your business is in real-time and makes financial planning a huge challenge," said Drew Fallon, Co-Founder & CEO at Iris. "Iris solves this problem by vertically integrating the data and application layers into an AI-native system that allows agents to access clean, structured data in real time to streamline and improve sales and operations planning processes."

From the lead investor: "Physical product businesses operate in a world where inventory fluctuations, seasonal demand, and complex supply chain dynamics create challenges that purely digital businesses do not face. These challenges necessitate a purpose-built, vertical-focused financial and operational system," said Rudina Seseri, Founder and Managing Partner at Glasswing Ventures. "By building the infrastructure, in the form of their vertical-specific database, Iris DB, and applications like forecasting, margin tracking, and advanced business intelligence, they deliver strong results and ROI to their customers."

Practical takeaways for CFOs and FP&A leaders

• Quantify month-end latency costs: missed pricing moves, ad spend waste, and stockout risk.
• Test SKU-level margin clarity: require a daily refresh of COGS, fees, shipping, discounts, and ad spend by channel.
• Pilot weekly cash forecasting with scenario levers for demand, marketing mix, and inventory buys.
• Consolidate the data stack: replace ETL + DWH + BI + planning tools where possible; measure saved analyst hours and reduced tool costs.
• Set governance guardrails: access controls, lineage, and audit logs, especially across ERP, 3PL, and ad platforms.

Who should evaluate Iris now

• CPG brands selling across DTC, wholesale, and marketplaces with variable fee structures
• Finance teams spending hours reconciling ads, orders, chargebacks, and logistics into margin waterfalls
• Operators who need weekly cash clarity to plan POs, promotions, and inventory turns

For finance teams building their AI toolkit, you can also browse a curated list of AI tools for finance here: AI tools for finance.