Skupos, the data platform for convenience retail, today announced a $26M
Series B financing round. The round was led by Insight Partners with
participation from Unilever Ventures, Tao Capital and prior backers Toba
Capital, Dynamo Ventures, and Loup Ventures. To date, Skupos has raised
$37M in venture capital. The current round will be used for ongoing
product development and strategic expansion, with a focus on leveraging
transaction data to innovate new revenue-driving strategies for
participants in the convenience retail industry.
“We are proud to partner with Skupos to provide the resources and
guidance to continue scaling and expanding the company’s market reach,”
said Jonathan Rosenbaum, Vice President at Insight Partners. “Skupos has
become a data hub for the convenience retail industry and we look
forward to working together to create value and efficiency for
retailers, distributors, and brands in order to best achieve their
desired results.”
In recent months, Skupos has seen its customer base more than double
from 3,000 customers to over 7,000, allowing retailers, brands, and
distributors to collaborate and transition from analog to data-driven
workflows.
“As we continue to grow the Skupos network, we’re thrilled to be
bringing on the dual expertise of Insight and Unilever Ventures,” says
Jake Bolling, CEO of Skupos.
“Digital technology is transforming nearly every aspect of the
consumer journey. Unilever Ventures is focused on supporting companies
that will change the way we live and work, particularly in the
intersection of CPG and technology. We are excited to partner with
Skupos in the process of transforming the convenience retail industry,”
says Ian Lane, Investment Director of Unilever Ventures.
Skupos was founded in 2016 by Jake Bolling, Mike Glassman, and Linh
Nguyen in an effort to harness data to create a frictionless connection
between millions of people and the products they need. Today, the
organization has expanded to serve over 7,000 retailers across the
country, powering data strategy for Fortune 500 brands and driving
positive business outcomes from previously inaccessible data. Skupos
remains dedicated to developing cutting-edge tools that will continue to
drive the industry forward.
About Skupos
Skupos records billions of transactions every year for forward-thinking
retailers, distributors, and brands around the country. Our software
unlocks efficiencies by collecting data at the point of sale in real
time to provide a foundation for data-driven decisions in each segment
of the convenience retail industry. Skupos works with over 7,000 retail
locations across all 50 states.
About Insight Partners
Insight Partners is a leading global venture capital and private equity
firm investing in high-growth technology and software companies that are
driving transformative change in their industries. Founded in 1995,
Insight currently has over $20 billion of assets under management and
has cumulatively invested in more than 300 companies worldwide. Our
mission is to find, fund, and work successfully with visionary
executives, providing them with practical, hands-on growth expertise to
foster long-term success. Across our people and our portfolio, we
encourage a culture around a core belief: growth equals opportunity. For
more information on Insight and all its investments, visit www.insightpartners.com
or follow us on Twitter @insightpartners.
About Unilever Ventures
Unilever Ventures is the venture capital and private equity arm of
Unilever. The fund invests globally and looks to invest in the best
companies across Beauty & Wellness, New Commerce Models and Enterprise
Technology. For further information, please visit: www.unileverventures.com.
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