Fancy That, a platform that helps retailers streamline their omnichannel strategies across their brick-and-mortar locations, online, mobile has just announced they have been acquired by data analytics platform, Palantir, according to a statement released on Fancy That’s website.
Terms of the deal were not disclosed.
Fancy That was founded in June 2013, by Ayush Sood, Amrit Saxena, Catherine Lu and Karanveer Mohan as part of Stanford University’s inaugural class of its Pejman Mar Ventures’ Garage incubator to help apparel retailers optimize their store operations.
Fancy That uses machine learning, mobile and sensor technologies to help retailers do things like clear their inventories, manage their discounts and understand their customers’ retail habits, so it makes sense for them to join a company like Palantir to optimize the Fancy That platform with big data.
“The decision to join Palantir was not made lightly, but ultimately it was clear that our goal of solving important problems in a data-driven way is deeply aligned with theirs,” Fancy That executives said in a statement on its wesite. “We are confident that we will be able to drive more value—in the retail industry and beyond—working in concert with the awesome team at Palantir.”
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