Crisp completes $26 million funding round
Crisp, a retail technology company with offices in Bentonville and Springdale, announced Wednesday (Dec. 10) the close of a $26 million Series B1 round led by New York-based private equity firm Paine Schwartz Partners.
According to a news release, the money for Crisp is recognition for the value that artificial intelligence (AI) provides for industry-specific tasks, such as automatically reducing out-of-stocks, increasing e-commerce revenue, and optimizing assortment and space planning. Additional investors in the round include Blue Cloud Ventures, FirstMark Capital, Cox, DNX, Prologis and Wellington Management.
Paine Schwartz is the largest private equity firm focused on investing in the sustainable food chain sector, the release shows.
“Crisp is an example of a company laser-focused on creating smarter data and AI-driven systems that power the global food chain,” said Kevin Schwartz, CEO and managing partner of Paine Schwartz Partners. “They have proven repeatedly that they have the ability to scale and build the solutions that are needed to address the toughest challenges within the global food supply chain.”
The new funding will support company growth, including increasing support for consumer packaged goods (CPG) and the retail industry with new platform features and functionality, expanding new data partnerships, investing in the Crisp AI Agent flagship product, and adding staff globally.
“Investors are looking to support companies that are demonstrating measurable change through advanced technology,” said Are Traasdahl, founder and CEO of Crisp. “Paine Schwartz recognizes that Crisp represents a compelling opportunity to invest in a scaling, high-ROI vertical AI data platform operating at the intersection of commerce, supply chain and sustainability.”
Since its inception in 2017, Crisp has raised $127 million. Existing lenders, JPMorgan and Silver Lake Waterman, will continue to support Crisp’s growth.
According to the news release, Crisp recently launched its AI Agent Studio, the retail industry’s first AI agent platform. AI Agent Studio provides supply chain insights and prompts that improve retail performance. Crisp’s retail data foundation supports this.
“FirstMark has been an investor in Crisp from the beginning because we believe in their technology, their team and their mission,” said Rick Heitzmann, FirstMark Capital founder and partner. “Are and his team have identified the most pressing business challenges faced by every CPG brand and their retail partners. Crisp leverages an intelligent, connected data strategy supported by the latest AI and automation tools. As a vertical AI solution that touches production, inventory, logistics, pricing, marketing and more, Crisp is an expert in AI and retail data, and they are well-positioned to lead the market.”
Crisp has 250 employees, with 30 located in Arkansas. A grand opening for the company’s new Bentonville headquarters is slated for the first half of 2026.