Davis-based retail pricing analytics company Engage3 has signed up international wine and spirits brand Moët Hennessy to help it merge modern retail technology with the company’s beverage business, which dates back to 1365.
Engage3 helps retailers and brands by tracking and optimizing their pricing compared to competitors, both in stores and online.
“Our solution arms Moët Hennessy with unprecedented coverage of the competitive landscape and our machine learning-powered platform transforms this wealth of data into uniquely powerful insights,” said Engage3 CEO Edris Bemanian, in a news release. “In keeping with Moët’s tradition of innovation, we’re helping Moët tackle revenue growth management in a completely new way.”
Engage3 uses sophisticated web-scraping data acquisition along with teams of professional auditors to show its clients pricing strategies across all major chains and in independent liquor stores.
Engage3 is at least the second Yolo County company to recently strike a deal with a division of the Paris-based international luxury brand company LVMH Moët Hennessy Louis Vuitton. In April, West Sacramento’s Origin Materials Inc. (Nasdaq: ORGN) signed a deal with LVMH Beauty to reserve delivery of its zero-carbon PET plastic for packaging perfumes and cosmetics. LVMH Beauty owns brands such as Parfums Christian Dior, Parfums Givenchy and Guerlain. Origin makes a drop-in replacement for petroleum in making plastic.
In December, Engage3 raised $35 million in an equity round led by Marina Del Rey-based Arrowroot Capital, a growth equity firm specializing in business-to-business software-as-a-service companies.
In August, Engage3 acquired San Francisco-based web data extraction company Dexi.io in a deal that nearly doubled Engage3's size.
Engage3 started up in 2008 as ShoppingScout, an app for consumers. The company changed its strategy in 2015 to concentrate on products that help retailers track competitors and set pricing.
Engage3 supports six of the top 10 retailers in the world.
