CircleUp, a leading fintech company and owner of the Helio insights engine,announced that it has been acquired by Brightflow AI, a financial data and intelligence platform empowering small businesses to take control of their cash flow and make data-backed decisions.
The acquisition will combine CircleUp’s data and machine learning capabilities with the Brightflow AI financial intelligence toolkit to create a comprehensive solution for consumer companies that need help growing their businesses. Helio’s descriptive, predictive and prescriptive analytics and extensive data will provide Brightflow AI’s customers with insights into their target markets, adding to Brightflow AI’s current capabilities that help customers manage their cash flow and make better decisions about their finances. Terms of the deal were not disclosed.
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“We are excited to create a new standard for financial intelligence for consumer companies,” said Ryan Caldbeck, Chairman and Founder of CircleUp. “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.”
“Brightflow AI provides equitable access to data and growth opportunities to the everyday business owner,” said Robbie Bhathal, CEO and co-founder of Brightflow AI. “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.”
“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,” said Rory Eakin, Founder of CircleUp.
CircleUp has supplied over $1 billion in capital to over 500 consumer companies, including Beyond Meat, Supergoop!, Nom Nom Now, Liquid I.V., SmartyPants, Function of Beauty, Kitu Life, Halo Top, Nutpods and others. The company’s data and analytics platform is used by founders, investors, lenders, and consumer companies to make better data-informed decisions.
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CircleUp raised capital from leading investors including Union Square Ventures, TPG, Temasek, and Rose Park Advisors. CircleUp was honored as one of Fast Company’s Top 10 Most Innovative Companies in Data Science, LendIt’s Small Business Lending Platform of the Year, and FinTech Breakthrough’s Best Institutional Investment Platform, and was named to the CNBC Disruptor 50, CB Insights FinTech 250, Forbes FinTech 50 (Most Innovative Financial Technology Companies), KPMG 50 Best Fintech Innovators, and Entrepreneur’s Best Entrepreneurial Companies in America.
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