Engage3, a Davis, CA-based retail software company, closed a $12m Series C round of financing.
The round was led by The March Fund I LP, with participation from NewRoad Capital Partners, Pereg Ventures, and Black Diamond Ventures. As part of the financing, Dr. Harold Schmitz and Christopher Lai, founding partners of The March Fund, will join Engage3’s Board of Directors.
The company plans to use the funding to accelerate product development, expand its staff, and scale up its go-to-market initiatives.
Led by Founder and CEO Ken Ouimet, Engage3 helps retailers manage their Price Image through accurate competitive data, data science, and Artificial Intelligence-powered software solutions,
Its Price Image Management Suite™ allows retailers to understand and manage their Price Image and align it with their sales and profitability objectives using predictive modeling. The suite includes Competitive Intelligence Management (CIM) – an AI-assisted, attribute-based, and data science-driven solution that provides competitive data (30 billion product pricing records collected annually in the U.S. and Canada) and like-item-linking visibility.
Customers include eight of the top ten grocery retailers in the U.S.