Crisp, a trailblazing retail tech firm from New York, just announced a massive $50 million funding injection this Thursday, a move that’s set to create waves in Northwest Arkansas. This hefty financial boost is earmarked for fueling the company’s ambitious growth strategies. This includes everything from the recent acquisition of Atlas Technology Group in Rogers to diving deep into product innovation, venturing into new markets, and possibly snapping up more companies along the way.
NY Retail Tech Firm Receives $50M to Grow Operations
Traasdahl, the brains behind Crisp and its CEO, couldn’t hide his enthusiasm. “We’re on a rapid growth trajectory, all thanks to the real, tangible value Crisp delivers,” he shared. “We’re tackling genuine challenges for CPG brands, helping them dial up their sales, marketing, and retail partnerships.” With the help of cutting-edge analytics that improve forecasting, pricing, inventory, and expansion strategies, Crisp’s platform, a one-stop shop for data, is revolutionizing how brands approach collaborative commerce.
The latest funding round is a mix of a $20 million Series B extension and up to $30 million in debt financing, with existing backers like Blue Cloud Ventures and FirstMark Capital pitching in. TriplePoint Capital LLC stepped in to refinance debt and support Crisp’s operational activities and future acquisitions.
Since its inception, Crisp has already raised $60 million in investments, boosting its total investment capital by $80 million. Traasdahl launched Crisp in 2016 and officially launched the platform in 2020 with the goal of reducing food waste through technology. Using AI, Crisp connects the CPG brand with real-time data from more than 40 retailers, providing insights and predictions that aid in the management of more effective inventory.
Today, over 700 CPG brands leverage Crisp to bolster their retail relationships, with many Walmart suppliers in Northwest Arkansas among its clientele. The acquisition of Atlas Technology Group from Advantage Solutions last year added a significant feather to Crisp’s cap, expanding its footprint in Northwest Arkansas, where it plans to double its workforce in the coming years.
With an extensive background in mobile and digital technology, Trasdal moved to New York from Norway in 2002. Prior to Crisp, he founded Tapad, a cross-device advertising platform with sales of $360 million in 2016, with New York being one of the biggest projects and outlets they have supported over the years.
With its strong retail reputation, Northwest Arkansas plays an important role in Crisp’s expansion plan. “It’s the retail mecca of the world,” Trasdal insists, aiming to leverage the region’s marketing and supply chain expertise to develop the best technology solutions
Crisp is also preparing for Walmart’s transition from its ageing Retail Link system to its Luminate data service, promising a seamless transition for customers and maximizing the new platform’s capabilities. With an eye on the future, Crisp will not only navigate but also redefine the changing retail landscape.
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