Backers included Tallwave Capital, the AngelList Syndicates Fund, Clark Landry, Sam Teller, Sizhao Yang, Jon Roska, Mario Martinez, Pat Sullivan, Brad Jannenga, and others.
The company intends to use the funds to launch its enterprise platform.
Led by Dave Albertson, CEO and co-founder, Shelvspace provides a Software-as-a-Service (SaaS) solution for the CPG industry. It allows suppliers, brokers, distributors and retailers to manage retail stores and sell and promote their products via the tools needed to complete the sales process. The solution has been adopted across over 75,000 retail locations and reps that represent over $1.4B in annual product sales.
The company also has regional sales offices in Philadelphia, San Francisco, and Chicago.