Crisp sees large Series B fundraising
Crisp, an open-data eCommerce platform that works with private label retailers, has reached a major fundraising milestone. The company has raised $35 million in Series B funding led by equity investors 3L, FirstMark Capital and Spring Capital.
The company uses cloud technology to analyze retail data sources to provide insight and trend changes to food retailers, suppliers and distributors. The company currently has over 200 clients, and has raised a total of $61 million since it was founded.
“We invest in passionate founders solving large, important problems. Crisp aims to reduce global food waste by targeting the root cause – a lack of visibility into supply and demand data,” said Dave Leyrer, co-founder and partner at 3L. “COVID-19 has highlighted shortcomings in the entire consumer goods supply chain, and by serving as a data repository and a single source of truth that market participants can rely upon, Crisp can reduce food waste and inequality and improve the profitability of all players in the ecosystem. Crisp has a talented team and new funding will empower them to grow their industry-leading platform across customer segments for a more connected ecosystem.”
Crisp says its mission is working with consumer goods brands, brokers, distributors and retailers to “optimize the value chain by providing an open flow of real-time data, enabling companies to flex with changes in demand across product SKUs, retail locations and buying channels.”
“The pandemic exposed longstanding weaknesses in the complex system of the consumer goods industry and has impacted every aspect of the supply chain,” said Are Traasdahl, CEO and founder of Crisp. “Crisp connects hundreds of data sources and ingests complex business data, standardizes it and delivers critical insights in a way that is open, flexible and collaborative. We appreciate the significant support of 3L and FirstMark who believe that technology can drive innovation and help build a supply chain that can withstand disruptions. We are also grateful that so many leading investors recognize the critical value that Crisp offers and that they are willing to not only commit financial resources, but also their time, expertise and network."