Pear Commerce: Retail Enablement Company Raises $10 Million In Series A

By Amit Chowdhry • Jul 1, 2024

Pear Commerce, a retail e-commerce enablement platform for omnichannel brands, announced that it had closed a $10 million Series A funding round. The funding round was led by Stage 2 Capital. Additional participation in the round includes Heartland Ventures, Homegrown Ventures, Dundee Venture Capital, M25, and Daren Cotter.

Pear Commerce has seen 5 times year-over-year growth and the company has powered the shoppable experiences for five of the top 20 CPG companies. And Pear’s technology uniquely creates shoppable experiences to over 3,000 retailers and 165,000 store locations – updating inventory daily – creating frictionless paths to purchase while capturing actionable insights on consumer behavior.

Owning the digital paths to purchase enables brands to understand the major drivers of performance and optimize their marketing budgets around crucial events such as clicks, retailer selections, and purchase confirmations. And Pear integrates with all major ad platforms so brands can build owned custom audiences of these retail ecommerce shoppers, improving their return on ad spend.

This funding follows Pear’s most recent product launch, Pear Connect — a shoppable ad unit that integrates where-to-buy technology directly into the ad itself, bridging shoppers from CPG brands’ digital ads to retailer websites in a single click. And Pear Connect enhances existing social and display ad creative by dynamically serving the in-stock product and retailer combinations most likely to be selected, utilizing Pear’s daily inventory scanning technology and the ad platforms’ algorithms. Pear will continue owning the digital paths from brand to retailer with the introduction of its new recipe product, solidifying its position on creating seamless shoppability for brands.

The Series A funding round aligns with Pear’s commitment in continuing innovating and expanding its platform to meet the evolving needs of CPG brands, retail partners, and their customers. And new initiatives and product launches are on the horizon, poised to further enhance the retail ecommerce landscape.

This investment will accelerate Pear Commerce’s mission to make everything shoppable and unlock the direct-to-consumer marketing playbook for CPG brands. And the funding will be used for product development, market expansion, and hiring, including the addition of three key positions: Vice President of Sales, Vice President of Engineering, and Head of Customer Success.

KEY QUOTES:

“Our vision is to empower CPG brands with the same transparency and efficiency that direct-to-consumer brands enjoy. This funding will help us grow our team and enhance our technology to provide exceptional support and insights for our clients, ensuring that every marketing dollar is optimized for maximum impact.”

  • Eric Martell, Co-founder of Pear Commerce

“Pear’s technology is fundamentally changing the way CPG brands engage with consumers, making it easier for them to meet their customers wherever they prefer to shop. With this investment, we’re excited to expand our product development and provide more brands with the comprehensive data and insights needed to drive meaningful growth.”

  • Alex Wyler, Co-founder of Pear Commerce

“Pear Commerce is transforming how brands connect with consumers in the retail ecommerce space. Their cutting-edge technology and commitment to innovation are setting new benchmarks for the industry. We are excited to support Pear’s journey as they expand and redefine how the market thinks about shoppable media.”

  • Liz Christo, Partner at Stage 2 Capital