Connecting supply chains, in-store systems,
associate workflows, and shoppers to fresher, healthier
food
NEW
YORK, July 9, 2024 /PRNewswire/ -- Today, Upshop
and Invafresh announce their merger, marking a significant
milestone in the food retail industry. Together, they aim to
address major food sector challenges: availability, affordability,
and waste. The united entity, Upshop, aims to empower communities
worldwide by enabling better access to fresh, safe, and affordable
food, regardless of whether it's prepared, perishable, or shelf
stable.
The merger of Upshop and Invafresh is set to transform the
landscape of food retail technology. The combined Upshop
organization offers the first global retail enterprise operating
platform built for the complexities of food. The platform will be
used by more than 400 retailers in 35 countries, operating in over
50,000 stores, and affecting millions of associates and shoppers
every day.
Retailers face increasing pressure to meet heightened
operational and service expectations from suppliers, associates,
and shoppers alike. The challenge of introducing more affordable,
healthy options into stores has been compounded by issues with
technology that associates have struggled to adopt. A unified
Upshop platform addresses these challenges with a single app,
empowering associates to efficiently "win their day" and deliver
the best experience for shoppers.
Shamus Hines, CEO, expressed his vision for the future: "We do
not settle for better; we strive for the best from our platform,
our people, and our partnerships with food retailers. The impact
our technology has on retailers' supply chains means millions of
families will have access to the freshest and healthiest food,
every day."
The unification comes at a critical inflection point for the
food retail industry. FSMA204, a major FDA compliance requirement,
is pushing the market to enhance data traceability capabilities.
Upshop will be launching its solution formally at the end of July,
combining the best of both organizations' food safety product
suites.
Additionally, food waste is a global challenge that needs a more
comprehensive answer. Stores are in need of solutions that can
support all steps in the food waste process – prevention, rescue
and reporting. The combined organization is preparing to launch a
new, global Food Waste Initiative, powered by a leading product
suite, unmatched analytics, and deep industry partnerships.
"By uniting the unparalleled innovation of two industry leaders
in food retail technology, we're poised to redefine what's possible
for the global community… retailers, associates and shoppers alike.
We are intent on investments that bring profound impact to the
industry. This is yet another huge step in Upshop's mission to
elevate the future of food retail on a global scale," said Level
Equity Partner, Sarah Sommer.
The merger of Invafresh and Upshop marks a significant leap
forward in food retail technology, promising innovative solutions
that will redefine best-in-class store operations and shopper
experience. Retailers globally will have access to the
market-leading solutions driving impact, such as:
- Fresh inventory and ordering management for a top 3 North
American grocer which has driven 8-figure savings
- Powering the highest quality and most engaging fresh experience
for Wegmans
- Enabling grocers such as Hy-Vee to flex their workforce for
more efficient omnichannel order fulfillment
- Empowering retailers, such as Sobey's, to take total control of
DSD
- Launching an even more robust foodservice operations platform
to C-Stores, supporting expanded prepared food offerings and
omnichannel workflows
Advisors
Robert W. Baird & Co. served as exclusive financial advisor
to Invafresh, and Davis Polk served
as legal counsel.
William Blair & Company LLC
served as financial advisor to Upshop, and Goodwin Procter LLP
served as legal counsel.
For more information about Upshop and its latest innovation,
please visit www.upshop.com/resources.
Mike Weber, CMO
813.849.1818
mike.weber@upshop.com
About Upshop
Upshop is the foremost provider of a SaaS platform designed to
streamline forecasting, ordering, production, and inventory
optimization processes for food retailers. Our unified platform
simplifies and enhances associate tasks, promoting smarter and more
interconnected operations across Fresh, Center, DSD, and eCommerce
departments. With over 150 retailers and 30,000 stores relying on
our mission-critical operations platform, customers have witnessed
substantial enhancements in sales, shrinkage reduction, food
safety, and sustainability throughout their stores. To learn more
about the Total Store Operations Experience, visit
https://upshop.com/, and watch customer testimonials at Upshop
Total Store Operations Experience - YouTube
About Invafresh
With a combined 500+ years of Freshology experience, the
heritage of Invafresh has enabled fresh food retailers to create
extraordinary store operations performance and differentiated
customer experiences. As the leader of Freshology, Invafresh is
deployed in over 350 grocery retailers spanning a global reach of
35 countries with $100's of millions of Fresh revenue being
transacted daily, to provide AI-enhanced demand forecasting,
merchandising, replenishment, sustainability and compliance, and
waste prevention solutions.
About Level Equity
Level Equity is a private
investment firm focused on providing capital to rapidly growing
software and technology-driven businesses. Level provides long term
capital across all transaction types in support of continued
growth. The firm has raised $3.0
billion in committed capital, has backed over 100 companies
since inception, and has offices in New
York, NY and Greenwich,
CT. For more information about Level Equity,
visit www.levelequity.com.
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SOURCE Upshop