Clerk, a retail technology company that's improving the traditional brick-and-mortar grocery experience, has raised $30 million in its Series B funding. The funding will be used to accelerate the buildout of its platform, allowing the company to expand its in-store marketing and merchandising products to retailers and brands.
Launched in 2018, Clerk helps brands and retailers improve the shopper experience by streamlining store operations and providing in-store retail media opportunities by leveraging its digital advertising network, Grocery TV.
"Brick-and-mortar stores are overdue for a digital transformation," said Marlow Nickell, CEO at Austin, Texas-based Clerk. "Although 90% of U.S. grocery sales still happen in stores, brands and retailers often don't have a simple way to manage store performance and product interactions like they do online — our team wants to change that. This investment will get us closer to providing our retail and advertising partners full transparency into their store experience, from understanding how their products are performing to measuring customer engagement with in-store touchpoints."
In the two years since its series A funding, Clerk says it has increased its network size by 350%. The company has also:
• Expanded Grocery TV's footprint across all 50 states in key markets with over 14,000 displays in retailers such as ShopRite, Bashas' and Cub Foods.
• Partnered with major programmatic networks such as The Trade Desk and Yahoo DSP to make it easier for agencies and brands to reach their audience of over 30 million grocery shoppers.
• Launched a SaaS merchandising product that leverages its machine learning technology to help brands ensure products are in-stock and shelved correctly.
Clerk’s latest funding round was led by Sageview Capital. Dean Nelson, partner at Sageview, will join Clerk’s board of directors, while Roberto Avila, principal at Sageview, will join as a board observer.