GoKawiilDispute-tracking fintech Glimpse announced Wednesday that it raised a $35 million Series A led by Andreessen Horowitz, with participation from 8VC and Y Combinator.
Founders Akash Raju, Anuj Mehta, and Kushal Negi, attended Perdue together and were initially building a startup that did Airbnb product placements. That company launched in 2020, but by 2024, the founders pivoted to a wholly new idea: Glimpse, a platform that helps retailers automate financial deduction processes.
It raised a $10 million round last year, led by 8VC after the business pivot, which it called a Series A round at the time. It is now calling this fresh $35 million a Series A round, and rebranding its previous Series A as a seed round. The company has raised $52 million to date, including funding they raised before they pivoted.
“We ultimately felt we lacked product-market fit and decided to hard pivot,” Raju said of the first, unsuccessful idea. “In this process, we had exposure to brands’ back offices and the chaos that was selling in retail, ultimately leading us to start Glimpse as it is today.”
They met their lead a16z investor through a mutual founder friend. “We built a strong relationship as we scaled the business. Really excited we can partner with them for this next stage of growth,” he continued.
Deductions are the amounts a retailer subtracts from what they owe a brand when settling an invoice. It’s commonplace and typically works like this: a brand bills the retailer, the retailer pays the brand. If it pays less than what was billed, it provides a reason, such as if the goods were damaged.
Some of the deductions are for valid reasons, but some aren’t — those are called invalid deductions, and they are tedious to track and manage on the backend. “These errors are surprisingly common,” Raju said, the company’s CEO said, adding that “a brand might ship inventory correctly but still be charged for a short shipment.”
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