Two Twin Cities retail analytics firms have been bought by New York-based Crisp Inc., which wants to become a key resource for vendors selling into big retailers like Target Corp.
Crisp, which is acquiring Lumidata and Setsight, both of Minneapolis, is slowly growing into the cities where major retailers are headquartered — locally, that includes Target (NYSE: TGT) and Best Buy Co. Inc. (NYSE: BBY). It also recently acquired Atlas Technology Group, based near Bentonville, Arkansas, where Walmart Inc. is based.
Lumidata has 11 employees, SetSight has 12. Each has a platform that helps smaller companies gain insights and sell their products on retailer shelves.
Crisp also has a Minneapolis office and is gaining access to over 2,500 brands with the acquisition.
Terms of the deal were not disclosed.
Crisp has raised $110 million across five funding rounds, according to the company. It raised $50 million in February from a Series B extension round and debt financing. At the time, Crisp said it was on an aggressive growth path.
Crisp founder and CEO Are Traasdahl said in the release that it’s challenging for consumer packaged goods (CPG) brands to effectively use retail data at scale. “Now it’s possible for thousands of brands working with the world’s largest retailers to leverage the latest data across the enterprise,” he said.
Crisp connects CPG companies to more than 40 retailers and distributors, and nearly 1,000 CPGs use Crisp’s platform.
The company says that real-time access to a holistic view helps brands identify where to allocate inventory and deploy effective marketing campaigns.
