We’ve raised $35M to scale Crisp’s unified collaboration platform and enable data sharing across the entire supply chain.
It’s an incredibly exciting time to be at Crisp. Dag and I founded the company with a single goal: connect all players in the food retail industry with access to a real-time, single source of truth. We saw that the food supply chain suffered from a lack of transparency and collaboration that led to inefficiency and waste, but we also saw the opportunity for technology to make the supply chain more agile and resilient. We had no idea just how much more pressing the issue would become.
When the pandemic hit, it exposed longstanding weaknesses in the complex global supply chain and impacted every aspect of the retail industry. And as customer buying behaviors continue to evolve, the need for agile supply chains has never been greater. Crisp is poised to take on that challenge by building the first open-data programmatic commerce platform for the consumer goods industry.
Investing in the future of commerce
To support us in achieving this goal, I’m delighted to announce that Crisp has raised $35M in Series B funding, led by 3L with participation from existing investors FirstMark Capital and Spring Capital. In addition, our Series B includes generous support from a hand-selected group of investors who offer unique business acumen and connections to support our exponential growth, including Steve Papa, Scott Beattie, Kim Perell, James Brennan, Dermot Halpin, Jonah Goodhart, Noah Goodhart, Bill Wise, Mark Newhall, 9Yards Capital, Gaingels, Carsten Thoma, Mike Barry, Tapas Capital, Ridgeback Capital, and Blue Cloud.
Keeping up the momentum
With this funding, Crisp will build on incredible progress from the past year. In 2021, Crisp’s open-data platform expanded connectivity across the retail supply chain through data integrations covering 80% of the top US retailers. We partnered with major retailers and distributors including UNFI, who endorsed Crisp as the preferred data solution for its thousands of natural and conventional suppliers. We scaled our customer base to over 200 CPG brands, from exciting challengers like Midday Squares and Ripple to household names like Illy and Nature’s Way. We’ve built tools to enable data-driven decision-making that helped them reduce out of stocks, realize new growth, refine marketing strategies, and reduce waste. To support this work, we’ve built an incredible team with deep experience across retail, supply chains, SaaS, and data. And we’ve continued to build a one-of-a-kind work culture that won us Inc.’s Best Workplaces award in 2021.
Scaling the open-data network
With the latest round of support from our investors, Crisp will rapidly scale its platform and products to enable seamless collaboration and efficiencies across the supply chain. We’ll connect new data sources and break down silos, uncover more meaningful insights, provide real-time data-driven recommendations, and enable action in-store and across core business applications. Ultimately, we will lead the industry toward a programmatic commerce model: creating end-to-end supply chain processes that are highly collaborative, agile and resilient, where supply meets demand and everything from replenishment to distribution to marketing operates at speed and scale – regardless of what comes next. It couldn’t be a more meaningful time to work on these challenges, and we look forward to another remarkable year ahead at Crisp.