Investments to Fuel Company’s Continued Growth as it Scales Promotion
Optimization Platform for Consumer Goods Companies and Retailers
PALO ALTO, Calif.–(BUSINESS WIRE)–Eversight™, the leading provider of Offer Innovation software designed
to improve promotion performance for consumer goods companies and
retailers, today announced it has raised $14.5M in an investment round.
Sutter Hill Ventures led the round, and was joined by previous investor
Emergence Capital. The investment will support Eversight’s rapid
expansion as it brings A/B testing, data science and machine learning to
the $80B world of in-store promotions.
“Promotion effectiveness is one of the biggest challenges facing the
world’s largest brands and retailers,” said Jim White, managing
director, Sutter Hill Ventures. “We’ve had our eye on the space for a
number of years, and Eversight is the first company we’ve seen with a
breakthrough approach. By applying digital intelligence to in-store
promotions they completely change the game.”
“In 2013, we saw Eversight had identified an opportunity to apply a
focused cloud solution to a large, untapped market where enhanced
intelligence would deliver immediate ROI to the customer. Today, the
company has established clear product market fit and a great growth
trajectory. We’re excited about Eversight’s future,” said Brian Jacobs,
founder and general partner, Emergence Capital.
Since the introduction of its core platform, Eversight Cloud™, in 2014,
Eversight has served as a strategic partner to Anheuser-Busch InBev,
BIC, Coca-Cola, Ferrero and Kimberly-Clark, among others. Its SaaS
platform enables these brands and the retailers they sell through to
digitally test, adapt, target and validate in-store promotions before
they’re introduced at retail. On average, Eversight-generated promotions
yield 20 to 50 percent greater returns than traditional promotions.
“About two-thirds of the $80B spent on promotional offers by consumer
goods companies doesn’t break even because they largely rely on trial
and error and little science. Today they’re getting no leverage from
that spend, but it’s our mission to change that. With our latest round
of investment from our partners we’ll be able to scale rapidly to meet
more of the demand we’re seeing from retailers and consumer goods
companies eager to take the guesswork out of one of their biggest spend
line items,” said Jamie Rapperport, CEO and co-founder at Eversight.
Headquartered in Palo Alto, Calif. and founded in 2013, Eversight
provides Offer Innovation software that helps retailers and consumer
goods companies dramatically improve promotion effectiveness and make
better use of in-store promotion dollars. Eversight disrupts the world
of promotions by combining the latest in predictive analytics, cloud
software, data science and behavioral economics. Eversight Cloud™
enables customers to remove the guesswork and risk from promotions by
digitally testing hundreds of unique offers with real shoppers to find
the best performing ones. Eversight serves as a strategic partner to
some of the largest consumer goods companies and retailers, including
Anheuser-Busch InBev, BIC, Coca-Cola, Ferrero and Kimberly-Clark.
Promotions based on Offer Innovation have yielded an unprecedented 20 to
50 percent performance improvement over traditional promotions. Visit http://www.eversightlabs.com
to learn more.
Follow Eversight on Twitter at @Eversightlabs and on LinkedIn www.linkedin.com/company/eversight.
Steve Roy, 617-642-9783