Crisp, a NYC-based provider of a retail data platform for granular sales and supply chain intelligence, closed a $72M Series B equity funding round.
The round included $17M from new strategic investors including Wellington Management, Toshiba Corporation, DNX, Cox, and Prologis. This brings the total equity raised by Crisp to $97M since inception.
The company plans to use the new funding to expand its reach into CPG and retail channels through new features and functionality within its Collaborative Commerce platform, accelerate new data partnerships, and grow the business through strategic hires.
Led by Are Traasdahl, founder and CEO, Crisp provides a collaborative data-sharing platform to reduce waste and improve profitability by partnering with brands, retailers, and distributors across the Consumer Packaged Goods (CPG) industry. Through integrations, AI and predictive analysis, its open data retail platform improves transparency and accelerates data-driven decision-making across end-to-end supply chains to enable more effective forecasting, pricing strategies, inventory management, and marketing. This enables brands to place products precisely where and when they are needed to satisfy consumer demand, minimize overage and stock shortages, reduce waste and cost, and boost revenue.
Over the past year, Crisp has expanded from 600 to over 6,000 customers, including more than 80 of the top 100 CPG brands. The company now aligns with more than 40 retailers representing more than 627 million points of distribution, up from 17 million in 2023. In addition to being used for daily operational management, Crisp enables POS and supply chain data to be used to understand consumer food and buying trends, identify real-time changes in supply chain activity, and to drive best practices to prevent or mitigate common supply chain disruptions.
FinSMEs
25/09/2024