- Datasembly — the leading provider of real-time product pricing, promotions, and availability data for retailers and CPG brands — announced that it has raised $10.3 million in Series A funding
Datasembly — the leading provider of real-time product pricing, promotions, and availability data for retailers and CPG brands — announced that it has raised $10.3 million in Series A funding led by Craft Ventures with participation from Valor Siren Ventures.
The company — which counts three of the top ten CPG brands and two of the top five regional and national retailers already as customers — plans to use the funding to accelerate product development and expand sales and marketing efforts. David Sacks will join the company’s Board of Directors. Datasembly’s proprietary technology is known for collecting billions of grocery and retail product records from hundreds of thousands of locations every day.
The data includes pricing, promotions and assortment information for both online and brick and mortar retailers thus providing clients with invaluable insight and competitive information for real-time product transparency. And clients utilize data to make critical business decisions quickly and efficiently, improving insight and margins for the execution of seasonal items, new product launches, private label and in-store pricing changes.
The consumer demand for a seamless online-offline experience is driving substantial transparency in retail pricing. And the COVID-19 pandemic forced retailers to address challenges posed by increasing competition, omnichannel execution, and contactless data acquisition while also responding quickly to what is happening in their stores and local markets. Plus pricing and assortment changes rapidly and better pricing intelligence improves strategic decision-making capabilities and increases revenue.
KEY QUOTES:
“Datasembly is changing the way retailers and CPGs can get and share pricing information, eliminating the need to visit stores in person or to settle for averaged data. Using real-time, store-level pricing and promotions data, customers get unprecedented transparency between retailers, partners, and suppliers. The top retailers and CPGs we’re already working with are reaping the benefits of the value we provide. Along with our two strategic investors, we have the talent and resources to continue to grow our customer base and solve the industry’s archaic pricing problem.”
– Datasembly founder and CEO Ben Reich
“For the last 20 years, retail industry data sets have remained largely unchanged. Now, Datasembly is leveraging technology to transform what companies can see, share, and do in a way that wasn’t practical or even possible before. Ben and the Datasembly team are changing the industry’s expectations of what’s possible when it comes to competitive pricing information. I can’t imagine a retail or CPG brand that wouldn’t want to take advantage of this data.”
– David O. Sacks, co-founder and general partner of Craft Ventures
