Venture Capital News: Datasembly Receives $10.3M Series A
WASHINGTON, DC, Datasembly has raised $10.3 million in Series A funding led by Craft Ventures.
Datasembly, the leading provider of real-time product pricing, promotions, and availability data for retailers and CPG brands, today announced it has raised $10.3 million in Series A funding led by Craft Ventures with participation from Valor Siren Ventures. With three of the top ten CPG brands and two of the top five regional and national retailers already customers, the funding will enable Datasembly to accelerate product development and expand sales and marketing efforts. David Sacks will join the company's Board of Directors.
Datasembly's proprietary technology collects billions of grocery and retail product records from hundreds of thousands of locations every day. Data includes pricing, promotions and assortment information for both online and brick and mortar retailers, providing clients with invaluable insight and competitive information for real-time product transparency. Clients leverage 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.
Consumer demand for a seamless online-offline experience is driving unprecedented transparency in retail pricing. Meanwhile, the COVID-19 pandemic forced retailers to address challenges posed by increasing competition, omnichannel execution, and contactless data acquisition, while responding quickly to what's actually happening in their stores and local markets. Pricing and assortment changes rapidly, and better pricing intelligence improves strategic decision-making capabilities and increases revenue.
"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," said founder and CEO, Ben Reich. "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."
"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," said David Sacks, co-founder and general partner of Craft Ventures. "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."
Datasembly empowers brands and retailers to make data-driven decisions about prices and promotions in real time. Datasembly collects hyper-local, real-time data from tens of thousands of retail, grocery and QSR locations across North America. Datasembly's intuitive web app leverages this data to solve real-world problems and deliver immediate visibility and insights that save time, money and improve efficiencies. For more information, visit www.datasembly.com.
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