Brookfield tech startup to use new funding for AI-centric product development 

SAFIO Solutions (Sales Analysis Forecasting Inventory Optimization) is targeting e-commerce and consumer packaged goods companies as users of its forecasting software.(GETTY IMAGES) 
By Nick Williams  – Reporter, Milwaukee Business Journal

Mar 9, 2020, 3:44pm EDT

A Milwaukee-area tech startup that developed a custom sales analysis and forecasting software is planning to apply new investment capital toward artificial intelligence-based applications and product development.

Formerly called Basic Code, SAFIO Solutions, recently raised $435,706 from six investors, according to a filing with the U.S. Securities and Exchange Commission. Since launching in 2018, the company has raised $1.8 million, said president and founder Audrey Walby.

SAFIO (Sales Analysis Forecasting Inventory Optimization) is targeting e-commerce and consumer packaged goods companies as users of its forecasting software, Walby said. Most companies in those industries use Excel spread sheets, which she says can be time-consuming and laborious. Through their copyrighted software, SAFIO compiled a company's sales and inventory data into a cloud platform.

Specifically, machine learning, a subset of AI, will be added to the software, Walby said. SAFIO recently completed version one of its software.

With the consumer packaged goods industry valued at $635 billion, Walby sees a huge market opportunity for her startup, which already has clients located on the coasts and in Wisconsin, she said.