Crisp announced it has closed a $72M Series B equity round, including $17 million from new strategic investors including Wellington Management, Toshiba Corporation, DNX, Cox, and Prologis. This funding brings the total equity raised by Crisp to $97 million since inception.
Crisp plans to use the new funding to expand its reach into CPG and retail channels through new features and functionality within its Collaborative Commerce platform, fuel new data partnerships, and grow the business through strategic hires.
Crisp is also transforming the CPG industry to reduce waste and improve profitability by partnering with brands, retailers, and distributors through a collaborative data-sharing approach. And through integrations, AI and predictive analysis, Crisp’s open data retail platform improves transparency. It accelerates data-driven decision-making across end-to-end supply chains to enable more effective forecasting, pricing strategies, inventory management, and marketing.
This allows brands to place products precisely where and when they are needed to satisfy consumer demand, minimize overage and stock shortages, reduce waste and cost, and boost revenue.
In the past year, Crisp has expanded from 600 to over 6,000 customers, including over 80 of the top 100 CPG brands. Now Crisp aligns with over 40 retailers representing more than 627 million points of distribution, up from 17 million in 2023.
Along with being used for daily operational management, Crisp enables POS and supply chain data to be used to understand consumer food and buying trends, identify real-time changes in supply chain activity, and to drive best practices to prevent or mitigate common supply chain disruptions.
For example, UNFI Insights (powered by Crisp) demonstrates the value of shared data. And this platform provides manufacturers the latest sales, inventory, and deduction data as products move through distribution to retail channels. When utilizing UNFI Insights, suppliers reduced the volume of food at risk for spoilage by 48% over a 12-month period, significantly reducing waste and cost.
KEY QUOTES:
“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. Crisp’s data-centric approach to food waste aligns with our investment priorities to further scale transformative climate solutions.”
-Molly Breiner, Sector Lead, Wellington Management
“We’re pleased to be investing in Crisp as they transform the supply chain by delivering transparency, enabling precise, data-driven decisions at every critical step in distribution. With the goal of achieving a zero-waste food supply chain, Crisp’s work is breaking down data barriers to create a more sustainable and efficient supply chain.”
-Will O’Donnell, managing director, Prologis Ventures
“Socium Ventures is focused on high-potential solutions that help businesses become more resource efficient and achieve tangible sustainability outcomes. Crisp’s innovative platform demonstrates the ability to reduce waste at scale for supply chain partners across multiple industries. We are impressed by Crisp’s strong growth and rapid adoption by customers and are excited to invest in their unique approach to optimize CPG supply chains for a more sustainable future.”
-Andrew Davis, Managing Partner at Socium Ventures
“FirstMark has supported Crisp since inception, and this latest round of funding demonstrates our continued recognition of Crisp’s unique ability to create a data network that delivers the insights needed to align supply with demand and reduce waste at scale. Over the past year, the accelerated brand adoption of the platform is an excellent signal demonstrating they are on the right path.”
-Rick Heitzmann, founder and partner, FirstMark Capital
“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. Crisp is positioned to lead the CPG industry in these efforts. We appreciate Wellington Management, Toshiba, Cox and Prologis and the continued support of our existing investors such as FirstMark in helping Crisp achieve our vision of creating a zero-waste supply chain.”
-Are Traasdahl, founder and CEO of Crisp
