Glasswing Ventures Leads $6.2M Seed Investment in AI-Native FP&A Platform, Iris Finance

It is with great enthusiasm that we announce our seed investment in Iris Finance, the AI-native financial planning and analysis (FP&A) platform built for companies that sell physical products. As the global FP&A software market is projected to reach $9.7 billion by 2031 and organizations increasingly prioritize automated, data-driven decision-making to combat complexities in financial management, Iris is uniquely positioned to disrupt and lead the market.

The company’s proprietary database platform, Iris DB, automatically ingests sales, marketing, accounting, payments, and supply-chain data into its proprietary consumer packaged goods (CPG)-specific database and normalizes and enriches the data to enable customers with immediate visibility into their financial and operational performance. In doing so, Iris empowers financial leaders to make decisions within minutes, not months.

Today, inventoried brands rely on a fragmented system of accounting software, ERP systems, e-commerce platforms, spreadsheets, and business intelligence dashboards to manage their sales inventory and cash flows. Because CPG and physical product-heavy industries manage such a high quantity of inputs daily, critical data often gets tied up in disconnected silos that finance teams must manually collect and reconcile to accurately forecast. A recent survey conducted by the Association for Financial Professionals found that the majority of FP&A professionals identify a lack of access to reliable data as the primary hindrance to technological success.

By connecting this siloed data into one unified data backend designed with the specificity of the connectors, APIs, and term definitions relevant to each industry, Iris DB produces machine learning-powered financial models and cash flow forecasts, tracks margins and profitability in real time, and provides cross-company benchmarks for manufacturers, distributors, and food service companies related to CPG. Iris’ AI Agent, Fin, queries data, builds scenarios, and surfaces insights without the need for spreadsheets or traditional business intelligence platforms. The AI-native platform can be trained on most CPG-specific demand and cash flow inputs, including Google Ads, Bill.com, NetSuite, Shopify, and others.

Founders Drew Fallon, Alex Heckmann, and Marko Iwanik each bring unique experiences to Iris that position them to build a strong enterprise. Prior to founding Iris, Drew worked as the CFO and COO of Mad Rabbit, a high-growth skincare brand, where he witnessed the company waste over one million dollars on its finance tech stack and struggle to gain complete visibility into the business’s performance. For Alex, Iris is his third entrepreneurial venture. He sold his last cybersecurity company to HUMAN Security. Finally, Marko, having built technological platforms across highly sensitive industries like the federal government, brings a unique understanding of the technological nuances necessary for successful implementation in highly regulated industries to the business.

It is our honor to support Drew, Alex, Marko, and the rest of the Iris team on their journey to streamline financial decision-making across inventory-based businesses. To learn more about Iris’ fundraise, read here.