Dispute-monitoring fintech Glimpse announced Wednesday that it has raised a $35 million series round led by Andreessen Horowitz, with participation from 8VC and Y Combinator.
Founders Akash Raju, Anuj Mehta and Kushal Negi attended Purdue together and were initially building a startup that did Airbnb product placements. This company started in 2020, but by 2024, the founders turned to a completely new idea: Glimpse, a platform that helps retailers automate their financial discount processes.
Raised $10 million last year, led by 8VC after the business axiswhere the it was called the Series A round at the time. It is now calling this new $35 million Series A round and rebranding its previous Series A as the first round. The company has raised $52 million to date, including the funding it raised before the spinoff.
“Ultimately we felt we lacked product-market fit and decided to pivot hard,” Raju said of the first, failed idea. “In the process, we were exposed to the back offices of brands and the chaos of retail sales, which ultimately led us to launch Glimpse as it is today.”
They met their lead investor a16z through a mutual founder friend. “We’ve built a strong relationship as we’ve scaled the business. Really excited to partner with them for this next stage of growth,” he continued.
Discounts are the amounts a retailer deducts from what it owes a brand when settling an invoice. It’s common and usually works like this: a brand charges the retailer, the retailer pays the brand. If he pays less than what was charged, he provides a reason, such as if the goods were damaged.
Some of the removals are for valid reasons, but some are not — these are called invalid removals and are tedious to track and manage on the backend. “These errors are surprisingly common,” said Raju, the company’s CEO, adding that “a brand can ship inventory correctly but still be charged for a short shipment.”
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“Teams connect to multiple retail systems, pull disparate documents, review line items, reconcile internal records and manage end-to-end disputes. The challenge is fragmented, unstructured data and workflows across systems and teams,” he said of how the process typically goes.
If the brand doesn’t reconcile every invalid discount, it could lead to “consistent revenue leakage,” he said.
Glimpse says it helps with that process by checking bookings, flagging invalid ones and filing disputes, helping companies recover money they may have lost or lost. The platform’s AI agents log into a retailer’s portal, find and gather all the necessary documents, and then sort through each discount, Raju explained. From there, AI agents validate each change against internal data (such as supply chain records and shipping logs) to determine which reductions are legitimate and which aren’t.
The company said it works with more than 200 retail brands, including Suave and the Chapstick lip balm brand.
“When issues are identified, Glimpse automatically raises disputes, follows the process, applies recovered cash and syncs everything with the brand’s ERP,” Raju said, adding that the product integrates with multiple systems. In addition to the main financial enterprise resource planning software, it integrates with promotional calendars and retail portals. It can cut a long process into days, he said.
Despite Glimpse’s automation, Raju said his company has people in the loop, “primarily to ensure results,” he said, such as “tracking disputes to resolve and recover cash, as well as quality assurance on critical steps like sorting and extracting data.”
The system gets smarter every time it processes a discount and continuously improves its classification, validation and analysis. “Over time, this creates a compound data advantage, where each new integration and customer makes the system smarter and more efficient across the network,” he said.
Others also deal with the invalid discount with software, such as Revya and Confido.
“Our vision is to be the AI infrastructure for CPG and retail brands, and this capital helps continue the execution towards that vision,” he said.
