Crisp Raises $50 Million to Grow CPG Data-Sharing Efforts

Collaborative commerce firm Crisp, which provides retailers with real-time inventory data, has raised $50 million in a Series B extension round to drive its growth efforts.

Existing investors including Blue Cloud Ventures, FirstMark Capital, Spring Capital and 3L participated in the round, Crisp said in a Thursday (Feb. 22) news release announcing the funding.

The company said the new funding will support its efforts in product development and expansion into new markets and additional acquisitions. Crisp noted in the release that it had recently acquired Atlas Technology Group.

Crisp provides brands and distributors with the latest store and shelf-level data, according to the release. This data offers visibility into actual inventory and sales, enabling brands and retailers to optimize the manufacturing, distribution, merchandising and marketing of consumer packaged goods (CPG).

Because of this data, brands are better able to predict demand, maintain stock levels, avoid overstocks and markdowns, and target marketing spend to the areas with the best sales potential, the release said.

More than 700 CPG brands, including Mars, Hormel and Kraft Heinz, use the Crisp platform to enhance relationships with retail partners by better supporting sales and inventory management, according to the release.

“Our strong growth is a testament to the measurable and significant value Crisp provides,” Are Traasdahl, founder and CEO of Crisp, said in a statement. “Accessing all data within a single platform is empowering brands to implement a collaborative commerce approach, where advanced analysis is improving forecasting, pricing strategies, inventory management, and expansion plans. We appreciate the significant support of Blue Cloud Ventures, Spring Capital, FirstMark and 3L in helping Crisp enhance our platform and meet the evolving needs of brands.”

In a 2022 interview with PYMNTS, Traasdahl said he believes one-third of the world’s food production goes to waste. However, he said, one solution is more visibility into the supply chain.

That’s a problem Crisp aims to solve, by offering retail and CPG planners subscription-based access to application programming interfaces that gives them easier access to supply data so they can keep shelves full or know when to expect a shortage.