Crisp secures $72 million in equity round

BusinessNorthwest ArkansasRetailStartups / Technology

by Talk Business & Politics staff ([email protected]) ago 42 views 

Bentonville-based Crisp has closed on $72 million in a series B equity round, bringing the company’s total equity raised to $97 million. The data-focused company works primarily in the retail sector to improve supply chain efficiency and transparency.

The latest funding round included $17 million from Wellington Management, Toshiba Corp., Cox, and other strategic investors.

According to a Crisp press release, the company plans to use the new funding to expand its ability to add more customers in the consumer packaged goods and retail sectors with its “Collaborative Commerce” platform. The company says its system uses point-of-sale and supply chain info to analyze consumer trends, see real-time changes in the supply chain, and prevent or minimize supply chain problems.

“This latest round of funding signals the market’s growing recognition of the need for supply chain solutions that reduce waste and facilitate collaboration at scale. As the impacts of climate change accelerate, investors are looking to fund sustainability solutions that deliver tangible economic returns,” Are Traasdahl, founder and CEO of Crisp, said in a statement.

Over the past year, Crisp has expanded from 600 to more than 6,000 customers, including more than 80 of the top 100 CPG brands, according to the company. Crisp now aligns with more than 40 retailers representing more than 627 million points of distribution, up from 17 million in 2023.

The company said its UNFI Insights program allowed its customers to reduce by 48% the amount of food at risk for spoilage in a 12-month period.

“Climate change and extreme weather are putting additional pressure on partners across the food supply chain to enhance visibility, drive efficiency, and reduce waste at every stage. Crisp is tackling this in a very pragmatic and effective way – bringing key players together with real-time data and analytics, to ensure optimal supply meets demand in a dynamic, fast-moving retail environment,” said Molly Breiner, sector lead with Wellington Management.