Pittsburgh-based Profitmind has developed an agentic AI platform designed to help retailers automate decisions in areas including pricing and inventory.

The platform brings together a retailer’s strategy, internal data and external competitive signals to offer recommendations.

New investor Thorndale Farm took part in the financing, alongside existing backers Magarac Venture Partners; AI Fund, led by Profitmind chairman Andrew Ng; Lightscape Partners; and individual investors.

Profitmind will look to use the funding to grow its platform to more retailers and to expand its product offer and team.

Accenture announced in January that it had invested in and begun a strategic partnership with Profitmind, through Accenture Ventures. Profitmind also recently partnered with Microsoft to bring the platform to Microsoft Marketplace and Azure.

Mark Chrystal, co-founder and chief executive, Profitmind, said the platform “replaces days of manual work with clear, strategy-aligned recommendations teams can act on immediately”.

Andrew Ng, chairman, Profitmind, said: “Profitmind has built agentic AI to coordinate decisions across teams, which is where much of the economic value sits as companies scale.”

The investment from Accenture Ventures reflects a growing trend from companies seeking AI systems that allow them to action their insights.

Through the partnership, Accenture will work with Profitmind to help retail clients deploy an agentic AI-led decision intelligence system.

Accenture’s global retail lead Jill Standish said Profitmind “mirrors how retailers run their businesses, linking data from multiple sources for clear, prioritised recommendations”.