Engage3, a Davis, California-based leading provider helping retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image, announced that it closed a $35 million in Series D.
The round was led by Arrowroot Capital, a leading US growth equity firm specializing in B2B SaaS, with additional participation from Sweetwater Private Equity and existing investors including Black Diamond Ventures.
Engage3 will use the growth financing to further execute on its roadmap as well as the below plans:
Global expansion across 30+ new countries, Enhancements to the company’s Price Image Management Suite for FMCG and non-FMCG retailers and brands, convenience & fuel retailers, and e-commerce retailers, Launching new products to measure and enhance trade promotions, Build further capabilities to continue serving the world’s largest organizations, of which Engage3 already works with 6 of the top 10 largest global retailers and Doubling the team size to support and accelerate the above growth
Company: Engage3, Inc.
Round: Series D
Funding Month: December 2021
Lead Investors: Arrowroot Capital
Additional Investors: Sweetwater Private Equity and Black Diamond Ventures
Company Website: https://www.engage3.com/
Software Category: Price Image Management Solutions
About the Company: Engage3 was founded by the creators of KhiMetrics (acquired by SAP), Engage3's leadership team is composed of former KhiMetrics, SAP, Revionics, dunnhumby, KSS Retail, IBM/DemandTec, and Nielsen executives. Engage3's Competitive Intelligence Management (CIM) is an AI-assisted, attribute-based, and data science-driven solution that provides accurate, granular competitive data (30 billion product pricing records collected annually in the U.S. and Canada) and like-item-linking visibility. CIM helps retailers reverse-engineer their competitor's pricing and assortment strategies across channels, markets, and items. Price Image Management (PIM) is a next-generation pricing solution that defines the impact of strategic pricing alternatives and unlocks pricing recommendations based on a retailer’s objectives for Price Image, sales, and profitability. Engage3’s Price Image management solutions help retailers understand and manage their Price Image and align it with their sales and profitability objectives using predictive modeling.