Label Insight, a Chicago, IL-based provider of product transparency solutions, raised $21m in Series C funding.
The round was led by Delta-v Capital with participation from River Cities Capital Funds. In conjunction with the funding, David Schaller, Managing Partner at Delta-v, will join the Label Insight board of directors.
The company intends to use the funds to hire data science professionals, continue product development and accelerate customer growth.
Led by Paul Schaut, Chief Executive Officer, Label Insight provides a SaaS based transparency platform for CPG product information covering more than 80% of top selling food, pet, and personal care items in the U.S. The company’s proprietary data science and machine learning capabilities capture product labeling information and create more than 22,000 unique custom attributes per product. The technology delivers transparency to consumers by powering analytics, marketing, merchandising and ecommerce solutions for leading organizations across the Retail, Brand Manufacturer, Government and Technology industries.
Customers include more than 25 top CPG companies and 12 leading retailers.