Crisp, a leading innovator in collaborative commerce, has raised $72 million in a Series B funding round. This latest round, which includes $17 million from new strategic investors such as Wellington Management, Toshiba Corporation, DNX, Cox, and Prologis, brings the company’s total equity funding to $97 million.

The newly raised funds will be used to expand Crisp’s reach into the Consumer Packaged Goods (CPG) and retail sectors by enhancing features and functionality within its Collaborative Commerce platform. Crisp plans to fuel new data partnerships and grow its business through strategic hires, further solidifying its position as a transformative force in the CPG industry.

Crisp’s platform is designed to reduce waste and improve profitability by fostering collaboration among brands, retailers, and distributors. Utilizing integrations, artificial intelligence, and predictive analysis, Crisp’s open data retail platform enhances transparency and accelerates data-driven decision-making across end-to-end supply chains. This allows brands to optimize product placement, minimize overages and shortages, reduce waste and costs, and ultimately boost revenue.

Popular

MeWe Launches Series B Funding to Accelerate Web3 Integration for 20 Million Users

Over the past year, Crisp has seen remarkable growth, expanding from 600 to over 6,000 customers, including more than 80 of the top 100 CPG brands. The company now aligns with over 40 retailers, representing more than 627 million points of distribution, a significant increase from 17 million in 2023. Crisp’s platform is increasingly being used for daily operational management, with its data capabilities extending to understanding consumer trends, identifying real-time changes in supply chain activity, and driving best practices to prevent disruptions.

An example of Crisp’s impact is UNFI Insights, a platform powered by Crisp that offers manufacturers up-to-date sales, inventory, and deduction data as products move through distribution channels. By using UNFI Insights, suppliers were able to reduce the volume of food at risk for spoilage by 48% over a 12-month period, significantly reducing waste and associated costs.

Molly Breiner, Sector Lead at Wellington Management, highlighted the importance of Crisp’s data-centric approach in addressing climate challenges: “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.”

Will O’Donnell, Managing Director of Prologis Ventures, emphasized Crisp’s role in creating a sustainable supply chain: “Crisp’s work is breaking down data barriers to create a more sustainable and efficient supply chain.”

Andrew Davis, Managing Partner at Socium Ventures, praised Crisp’s ability to reduce waste at scale: “Crisp’s innovative platform demonstrates the ability to reduce waste at scale for supply chain partners across multiple industries.”

“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,” said Are Traasdahl, founder and CEO of Crisp. Traasdahl expressed gratitude for the support from both new and existing investors, as Crisp continues its mission to lead the CPG industry toward a zero-waste future.

With this significant investment, Crisp is poised to further its efforts in transforming the supply chain through innovative, data-driven solutions that promote sustainability and efficiency across the industry.