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Exclusive: First Insight acquires digital marketing platform SnapRetail

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Jan 11, 2024
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Illustration: Aïda Amer/Axios

First Insight, a marketing tech company, acquired digital marketing company SnapRetail, CEO Greg Petro tells Axios exclusively.

Driving the news: The deal marks the first in a series of planned acquisitions around developing First Insight's "concept-to-conversion" marketing platform.

Details: First Insight is profitable, according to Petro, who declined to comment on deal terms for SnapRetail.

Zoom in: First Insight folding in SnapRetail's capabilities will help retailers and brands engage in real-time with customers to better increase in-store traffic and online sales.

  • "You don't get too many chances to engage consumers before they decide maybe you're not as relevant as you would like," Petro says.

Zoom out: Despite the pullback in discretionary and ad spending last year, Petro believes there will be more growth opportunities this year.

Of note: First Insight's investors include Escalate Capital Partners, Hercules Capital, Updata Capital, Adams Capital Management and Idea Foundry, per PitchBook. Adams Capital was also an investor in SnapRetail.

What's next: Regarding its future M&A strategy, First Insight plans to invest in enabling revenue optimization, pricing capabilities and AI capabilities.

  • It also is working on enhancing companies' capabilities around packaging, testing and incorporating sustainability.
  • He also sees opportunity to expand across more geographies.
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