Santé raises $15 million to bring AI to the neighborhood liquor store
Every bottle sitting unsold on a liquor store shelf ties up cash. Deciding when to discount it, which customers might buy it and whether to order another case requires information and time. An independent retailer may struggle to pull that together.
Santé sees a business opportunity in those everyday decisions.
This week, the company announced $15 million in Series A funding led by FINTOP. Returning investors Bonfire Ventures, Operator Collective, Y Combinator and Veridical Ventures participated. Its pitch is that artificial intelligence, connected to the software merchants already use to run their stores, can help them make better decisions about inventory, marketing and staffing.
Santé says it serves nearly 1,000 retailers representing $2 billion in annual gross merchandise volume. That measures merchandise sales across its retail footprint, rather than Santé’s revenue. Still, it gives the company a substantial base of commercial activity around which to build its next generation of...
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