TLDR:
– Pear Commerce, a retail e-commerce enablement platform, raised $10 million in Series A funding led by Stage 2 Capital.
– The funding will be used for product development, market expansion, and hiring key positions.
Pear Commerce, a retail e-commerce enablement platform for omnichannel brands, recently announced the closure of a $10 million Series A funding round. The funding was led by Stage 2 Capital, with additional participation from Heartland Ventures, Homegrown Ventures, Dundee Venture Capital, M25, and Daren Cotter. The company has experienced 5 times year-over-year growth and has powered shoppable experiences for five of the top 20 CPG companies.
Pear Commerce’s technology creates shoppable experiences for over 3,000 retailers and 165,000 store locations, updating inventory daily to provide a seamless path to purchase for consumers. This funding will be used to further develop Pear’s platform, expand its market reach, and hire key positions such as Vice President of Sales, Vice President of Engineering, and Head of Customer Success.
With the introduction of its new product, Pear Connect, the company aims to enhance shoppable ad experiences for CPG brands by integrating where-to-buy technology directly into the ad itself. Pear Commerce’s mission is to make everything shoppable and unlock the direct-to-consumer marketing playbook for CPG brands. The funding will also support future product launches and initiatives aimed at enhancing the retail e-commerce landscape.
“Our vision is to empower CPG brands with the same transparency and efficiency that direct-to-consumer brands enjoy. This funding will help us grow our team and enhance our technology to provide exceptional support and insights for our clients, ensuring that every marketing dollar is optimized for maximum impact,” said Eric Martell, Co-founder of Pear Commerce.
Overall, Pear Commerce’s Series A funding round reflects the company’s commitment to innovation, expanding its platform, and meeting the evolving needs of CPG brands, retail partners, and consumers in the retail e-commerce space.
