Mercury portfolio company Label Insight continues to help lead the product label transparency revolution as consumer demographics, tastes, and attitudes towards health and wellness continue to change. As with most revolutions, they take capital to grow, so we are particularly excited that Label recently closed a $21M Series C round of venture financing. The round was led by our friends at Delta-V Capital, with participation from River Cities Capital Funds and nearly all other investors in the Company. The capital will be used to scale up sales and marketing and continue building out Label’s industry-leading big data platform for product label transparency. New initiatives include additional non-food categories, internationalization, and enhanced data science capabilities – all essential to growing the revolution.
What is Label Insight?
For those of you unfamiliar, Label Insight is a Chicago and St. Louis-based SaaS startup providing product label transparency through data science. The Company’s industry leading technology generates the largest product attribute data set available by capturing and enhancing information on the packaging of food, pet, and personal care products. Label Insight enables enterprise customers across many industries to create rich omni-channel experiences, maximize category growth potential, and ultimately deliver greater transparency to consumers.
Closing their Series C has been a capstone to a great 2017. Label has been gaining momentum throughout the year, hitting the following milestones:
- In February, the Company launched its Open Data initiative providing researchers with access to food product data
- Also in February, Label Insight partnered with Nielson to launch Product Insider
- In March, the Company published the 2017 Shopper Trends Survey
- In July, Label Insight hired its 100th employee
- In October, the Company hosted the first annual TransparencyIQ conference, bringing together over 100 thought leaders from retail, CPG and government in an open forum
- In December, the Company announced a Partnership with 1WorldSync, creating the industry’s most comprehensive solution for food label transparency
We at Mercury congratulate CEO Paul Schaut and the entire Label Insight team on all of their achievements and look forward to the next chapter in the product label transparency revolution!