On June 27, 2024, Pear Commerce, a retail e-commerce enablement platform, announced it has secured $10 million in Series A funding led by Stage 2 Capital. This follows Pear’s significant 5x year-over-year growth and its pivotal role in creating shoppable experiences for five of the top 20 CPG companies. Great North Ventures & Mairs & Power Venture Capital were the two largest investors in Pear’s prior round.
Modern consumers expect an omnichannel shopping experience that bridges channels, platforms, and devices. Pear builds all of a brand’s digital paths to purchase from brand.com and brand media to retail.com seamlessly. Pear’s technology uniquely creates shoppable experiences for over 3,000 retailers and 165,000 store locations–updating inventory daily–creating frictionless paths to purchase while capturing actionable insights on consumer behavior.
Owning the digital paths to purchase enables brands to understand the key drivers of performance and optimize their marketing budgets around crucial events such as clicks, retailer selections, and purchase confirmations. Plus, Pear integrates with all major ad platforms so brands can build owned custom audiences of these retail e-commerce shoppers, improving their return on ad spend.
“Our vision is to empower CPG brands with the same transparency and efficiency that direct-to-consumer brands enjoy,” said Eric Martell, Co-founder of Pear Commerce. “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.”
The funding will support the growth of Pear’s team, enhance its technology, and introduce new products like Pear Connect—a shoppable ad unit that integrates where-to-buy technology directly into the ad itself, bridging shoppers from CPG brands’ digital ads to retailer websites in a single click. Future initiatives include expanding product development, market expansion, and filling key positions such as VP of Sales and VP of Engineering (see all job openings & apply on LinkedIn).
Great North Ventures has an investment theme which is investing in startups that are leveraging AI to transform industries. “Pear’s solutions help CPGs transform their shopper marketing campaigns by providing them with break-through capabilities for measuring their effectiveness,” said Partner Ryan Weber. Prior to Great North Ventures, Ryan led product management and strategy at an advertising tech company he co-founded and scaled to tens of millions of annual revenue which had both desktop and mobile products.
See additional coverage of the release on Pear Commerce’s Website
