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BFD Expert Voices - Retail Deals

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Crisp, an AI-driven supply chain data platform, acquired forecasting tool Shelf Engine, CEO Are Traasdahl tells Axios exclusively.

Why it matters: The company, which is raising another $50 million, plans to consolidate its space, he says.

Catch up quick: Shelf Engine raised nearly $60 million from investors including Y Combinator, General Catalyst, Inovia Capital, Correlation Ventures and Quiet Capital.

Its cap table also includes celebrities like Ellen DeGeneres, Shaun White and Joe Montana.

Zoom in: The deal is being financed with cash and equity, Traasdahl says, declining to comment on the valuation.

Shelf Engine decided to sell because while it was effective at forecasting for difficult product categories like fresh produce and automating ordering, it needed a "firehose of data," which the acquirer has, he says.

The acquisition, in turn, "enhances Crisp's analytics and food waste reduction capabilities and fuels expansion into fresh supply chains," per the company.

Investor Wellington Management introduced the two companies, spurring talks, the CEO adds.

How it works: Crisp uses AI to facilitate data sharing between CPG brands, retailers and distributors so they can more efficiently manage inventory, Traasdahl says.

Customers use it to decide which products to remove and replace, and make decisions on how to configure their stores, pricing and promotions, he says.

By the numbers: Traasdahl declined to comment on revenue, though he says Crisp has more than 6,000 customers representing $2.5 trillion in retail sales across 250,000 stores.

The company, which has raised nearly $100 million to date, is also growing 100% year over year, he says.

Shelf Engine adds another 3,000 brands, the CEO says.

What's next: "Crisp is evaluating several acquisitions that will broaden our data offering and international presence," Traasdahl says.

While the company started in food, it is expanding into areas such as health, beauty, electronics and apparel.

After this next $50 million round, it plans to raise no more money, he says.

Flashback: During Crisp's early years, companies were loathe to share their data, but that changed with the pandemic when consumer-facing companies veered between empty shelves and a glut of inventory, Traasdahl explains.

The company went from no customers to 150 during that time and raised $35 million, he says.

Exclusive: AI supply chain data platform Crisp acquires Shelf Engine

Crisp, which is the midst of raising another $50 million, plans to makes more acquisitions following the deal.

Illustration of a conveyor belt in the shape of a dollar sign.

Crisp, an AI-driven <a class="gtmContentClick" data-vars-link-text="supply chain" data-vars-click-url="https://link.axios.com/click/39187769.24/aHR0cHM6Ly93d3cuYXhpb3MuY29tLzIwMjQvMTEvMTIvdHJ1bXAtdGFyaWZmcy1jaGluYS1tZXhpY28tc3VwcGx5LWNoYWluP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1zZW5kdG9fcHJvbmV3c2xldHRlcnRlc3Qmc3RyZWFtPXRvcA/61b8a591584bc520355bcf51Bfbb68a53" data-vars-content-id="9d9a8ad0-e21b-4ae7-b3a6-d489dfafe978" data-vars-headline="Exclusive: AI supply chain data platform Crisp acquires Shelf Engine" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/39187769.24/aHR0cHM6Ly93d3cuYXhpb3MuY29tLzIwMjQvMTEvMTIvdHJ1bXAtdGFyaWZmcy1jaGluYS1tZXhpY28tc3VwcGx5LWNoYWluP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1zZW5kdG9fcHJvbmV3c2xldHRlcnRlc3Qmc3RyZWFtPXRvcA/61b8a591584bc520355bcf51Bfbb68a53" target="_self">supply chain</a> data platform, acquired forecasting tool Shelf Engine, CEO Are Traasdahl tells Axios exclusively.Why it matters: The company, which is <a class="gtmContentClick" data-vars-link-text="raising another" data-vars-click-url="https://link.axios.com/click/39187769.24/aHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS9uZXdzL2NyaXNwLWNsb3Nlcy03Mm0tc2VyaWVzLWItMTIwMDAwNDg1Lmh0bWw_Z3VjY291bnRlcj0xJmd1Y2VfcmVmZXJyZXI9YUhSMGNITTZMeTkzZDNjdVoyOXZaMnhsTG1OdmJTOCZndWNlX3JlZmVycmVyX3NpZz1BUUFBQUk3V2VYaXJlSlFDUTZWanVwNGw3M243elpRTGIyR2lKZG1fejBETVRib3dxUm52RWtIVEVvLXAyRGprU2pTZXJkTEk1TnhnTWFzbk1xN0xtNjgwb2V0S2FNM1ZlR0c5ZVBQNWNRNDlTUncyc1JhTEJsZjJ4MEFNX1JNUlZDYW5kTkpORW9KaGhlSTBpaWYtRTNzSlNWUm1tNkJnM09JX3l3V1hTUVpGOFFlUiZ1dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249c2VuZHRvX3Byb25ld3NsZXR0ZXJ0ZXN0JnN0cmVhbT10b3A/61b8a591584bc520355bcf51B8dbf4904" data-vars-content-id="9d9a8ad0-e21b-4ae7-b3a6-d489dfafe978" data-vars-headline="Exclusive: AI supply chain data platform Crisp acquires Shelf Engine" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/39187769.24/aHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS9uZXdzL2NyaXNwLWNsb3Nlcy03Mm0tc2VyaWVzLWItMTIwMDAwNDg1Lmh0bWw_Z3VjY291bnRlcj0xJmd1Y2VfcmVmZXJyZXI9YUhSMGNITTZMeTkzZDNjdVoyOXZaMnhsTG1OdmJTOCZndWNlX3JlZmVycmVyX3NpZz1BUUFBQUk3V2VYaXJlSlFDUTZWanVwNGw3M243elpRTGIyR2lKZG1fejBETVRib3dxUm52RWtIVEVvLXAyRGprU2pTZXJkTEk1TnhnTWFzbk1xN0xtNjgwb2V0S2FNM1ZlR0c5ZVBQNWNRNDlTUncyc1JhTEJsZjJ4MEFNX1JNUlZDYW5kTkpORW9KaGhlSTBpaWYtRTNzSlNWUm1tNkJnM09JX3l3V1hTUVpGOFFlUiZ1dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249c2VuZHRvX3Byb25ld3NsZXR0ZXJ0ZXN0JnN0cmVhbT10b3A/61b8a591584bc520355bcf51B8dbf4904" target="_self">raising another</a> $50 million, plans to consolidate its space, he says.

Exclusive: AI supply chain data platform Crisp acquires Shelf Engine

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