CHICAGO, IL - Sep 16, 2025 (UTC) - Iris Finance, the artificial intelligence-driven profit-planning platform, has raised $6.2 million in seed funding to intensify its technological firepower for consumer packaged goods brands. Glasswing Ventures, the early-stage venture capital firm focused on AI and information technology, led the seed funding round, with participation from Founder Collective and Hyde Park Angels along with existing investors Revolution’s Rise of the Rest Seed Fund, Barrel Ventures and Rosecliff Ventures. In total, Iris Finance has raised $9.7 million in funding.
Iris Finance was founded in 2024 by CEO Drew Fallon, former COO and co-founder of tattoo aftercare brand Mad Rabbit, COO Alexander Heckmann, a three-time founder whose previous cybersecurity company Clean.io was acquired by Human Security, and CTO Marko Iwanik, who formerly worked in product at redaction software company Milyli. From September last year to this year, the company’s business has grown 550%. By June, it crossed $1.5 million in revenues and was breakeven at the time of seed investment.
The company has 16 employees, including 12 full-time employees, and expects to enlarge its team, particularly in customer success and engineering roles. It has about 130 customers, with roughly 70% in beauty and wellness, including Jolie, PrettyBoy, Jones Road and Marin. It charges an average of $4,000 a month for brands to tap into its proprietary database platform.
The proprietary platform, called Iris DB, handles weekly cash-flow forecasting, sales, profitability and margin tracking, financial modeling with profit-and-loss visibility, benchmarking and inventory planning. Iris Finance connects with brands’ data sources like Shopify, Amazon, NetSuite, payroll systems, third-party logistics providers, and TikTok and Google advertising.
“We didn’t necessarily need the money to stay alive, but the sheer magnitude of the product we’re building requires a significant investment,” says Fallon. “It was almost bittersweet. Do we build what we think this can be or do we want to run a cash-flowing type of business. We decide to raise the money because, in order for what we envision to manifest, it’s going to take good investment.”
The funding will partly go toward expanding clientele, particularly up and down CPG’s supply chain, from manufacturers to distributors. Fallon envisions Iris Finance becoming the go-to AI CFO for CPG brands and increasingly acting proactively rather than reactively to data. Looking to the future, Fallon describes the company’s vision: “It’s there in the boardroom with you. You are talking to it, and it’s answering questions. It can dynamically build you forecast models and give you benchmarks on the industry and help you figure out how to position. It can literally be there with you as a strategic partner and do all the number crunching that now takes teams to do seamlessly and automatically.”
Rudina Seseri, founder and managing partner at Glasswing Ventures and an ex-senior manager in Microsoft’s corporate development group, stated: “By building the infrastructure, in the form of their vertical-specific database, Iris DB, they have created the bedrock to transform how data is ingested and processed at these companies. By building the applications on top of that such as forecasting, margin tracking, and advanced business intelligence, they deliver unprecedented results and ROI to their customers. Iris has turned what once were challenges for brands into strategic and operational advantages.”
The concentration on cash flow management addresses a critical struggle for small businesses. Iris Finance points to a PYMNTS survey showing that cash flow mismanagement contributes to 82% of small business failures and that 70% of small businesses are holding less than four months of cash reserves.
About Iris Finance
Iris Finance is an artificial intelligence-driven profit-planning platform founded in 2024 that serves as an AI-powered CFO for consumer packaged goods brands. The company’s proprietary platform, Iris DB, provides weekly cash-flow forecasting, sales and profitability tracking, financial modeling, benchmarking, and inventory planning. With about 130 customers, roughly 70% in beauty and wellness, Iris Finance integrates with major data sources including Shopify, Amazon, NetSuite, and advertising platforms to deliver comprehensive financial intelligence for CPG brands.
