Davis-based cloud retail pricing analytics company Engage3 has been selected by retail technology companies Qsic and SetSight as partners to use its data and also to offer services to its customers.
Engage3 is a developer of analytics software for retail companies. Its customers include eight of the 10 largest retailers in the world.
The partnerships allow the tech companies access to Engage3 research, which is the “one of the largest databases of local retail prices,” said Engage3 CEO Edris Bemanian.
Engage3 has made the Inc. 5000 list of fastest-growing private companies in the country for seven years in a row. It was on the most recent list in August with 115% growth over the past three years.
Qsic is an Australian-based in-store retail media platform with AI-driven audio technology. Qsic creates aural retail environments with ambience and atmosphere using audio, music and targeted ads.
In the partnership with Engage3, Qsic gets access to Engage3’s database of updated local retail prices, which can then be worked into Qsic’s in-store ads, Bemanian said.
Qsic’s technology platform has sensors in stores to see how busy they are, and it raises or lowers the volume depending on traffic. It also monitors local weather and traffic to target advertising based on those variables and the time of day. The company also curates music to set a tone for the store depending on its location and the time of day. It then sells targeted advertising for products in the store, which could be items sold only at that store or which are at a nice price compared to competitors, Bemanian said.
Minneapolis-based SetSight helps manufacturers and distributors work more effectively with big-box retailers by giving retail intelligence on which products are selling at which stores. Using Engage3 analytics and pricing data, SetSight will allow its customers to see what prices competitors are selling the same items for in the same geographic markets, which gives them intelligence to be more competitive on price, or even to raise prices, Bemanian said. “It gives them a view outside the four walls of a local store.”
Engage3 in 2022 bought Dexi.io, a San Francisco-based company specializing in web data extraction. Dexi developed artificial intelligence-enabled web crawlers that capture data from websites.
Engage3 started up in 2008. It raised $35 million in an equity round led by Marina Del Rey-based Arrowroot Capital in 2021. In September, it raised an additional $7 million in follow-on funding to grow the company. Engage3 is a portfolio company of Folsom-based venture capital firm Moneta Ventures.
