On the heels of a $5 million funding round in March, Denver AI startup Nodin has made an acquisition that will allow the company's platform to predict how weather will impact a business.
The company announced today that it has acquired another Denver-based startup, HeadsUp, for an undisclosed amount.
Nodin has developed a SaaS-based platform that provides clear, automated business insights about what is happening in a business, why it is happening and what to do next.
The HeadsUp acquisition further builds out Nodin's AI platform, bringing weather insights into the fold. HeadsUp's platform predicts and delivers insights on how weather impacts a business. The company estimates that up to 86 percent of a retail store's revenue can fluctuate on a daily basis due to weather factors.
"Weather plays an enormous role in the profitability of companies in industries ranging from retail to hospitality to construction. Understanding that relationship – and accurately predicting how that will impact customer behavior – allows companies to make more informed decisions about staffing, supply chain management, pricing, revenue opportunities and more," said Jeff Allen, CEO of Nodin. "Weather-driven insights are one of the most fascinating and impactful ways that AI-driven analytics can help companies run their businesses, doing far more than is possible with weather apps, weather APIs and previous tools."
This acquisition comes months after Nodin announced a $5 million funding round that included participation from institutional investors, including Liberty Global Ventures and the Anschutz Ventures Group.
"Together, we have a comprehensive offering to help companies truly understand the root cause of why their business changes."
The company continues to build out its AI platform to provide businesses with answers to why things change, by delving deep into datasets that often overwhelm humans.
The platform has two main user personas, a business analyst and an executive, or decision-maker. In both cases, Nodin shows what is happening to the business, why it’s happening and how to fix it.
In addition to the acquisition, HeadsUp founder and CEO Rob Seigel will join Nodin as VP of engineering.
"I am excited to bring the power of the HeadsUp solution to the Nodin platform," said Siegel. "Together, we have a comprehensive offering to help companies truly understand the root cause of why their business changes."
In a previous interview with Colorado Inno, Allen said the 12-person company, located at 555 17th St. in Denver, is hiring and hopes to grow the team to 16 by the summer.
