SmartCommerce Adds Growth and Expansion Capital, Led by Argentum

ATLANTA, GA  – SmartCommerce, a leading provider of data-centric, AI-assisted SaaS Marketing solutions for Consumer Packaged Goods (CPG) and adjacent brands announced today that it has closed an additional growth financing round led by Argentum Capital Partners IV, L.P., with Mathers Associates participating.

In connection with the financing, two new Directors join the Board: Giles Farley of ICU Ventures, and Corey Ferengul, CEO of Yello. Walter H. Barandiarán, Managing Partner at Argentum, continues as Board Chairman.

The Company’s Click2Cart® platform is already used by virtually all top CPG manufacturers, their agencies, and their retailer partners to enable consumers to save/cart products from all digital impulse points. Ads, videos, social media, influencers’ platforms, emails, websites, magazines and product packaging that were previously driving only awareness or interest are now being used by consumers to drop over $3 Billion a year of products into carts among a network of over 500 retail partners globally, including Amazon, Walmart, Target, Kroger and Walgreens. In addition to significant recent advancements in support of Platform and Retail Media usage and full-funnel sales reporting, SmartCommerce’s two 2022 acquisitions added fully-integrated recipe and contextual bundle support to the company’s suite of Click2Cart services.

“As consumers accelerate their shift away from retailer-centric product discovery and into distributed product discovery (across influencer, video, CTV, digital ads, etc.), our hyper-local and hyper-fresh product data engine becomes more important in helping brands accurately reach consumers … and is the secret sauce in enabling our frictionless Click2Cart® applications to convert purchase intent into products in carts for brands and their retailer partners,” says Jennifer Silverberg, SmartCommerce CEO. “Our client partners are using Click2Cart to drive substantial incremental volume without increasing marketing spend – enabling them to efficiently build market share even during this time of economic uncertainty.”

“As investors with extensive experience in eCommerce tech, Argentum has seen many companies that are working to address this segment, but most are focusing only on the marketing application, and miss the hard part – the data. SmartCommerce is the only one bringing the needed data-centric rigor – their data core is scalable, strong, and incredibly flexible,” said Walter Barandiarán, Argentum’s Managing Partner.

“We are very excited about deepening our partnership with Argentum,” added Silverberg. “The value they have brought to SmartCommerce over the last two years has far exceeded their investment – they are a trusted partner across all parts of our business, bringing advice, insights, and support, including during our two acquisitions last year. Argentum has been a critical ingredient to our continued growth.”

SmartCommerce’s industry-leading data & technology platform ingests and optimizes valuable real-time data, including product availability, location and pricing, for millions of CPG SKUs, enabling SaaS solutions that dramatically accelerate eCommerce for CPG brands and their retail partners by removing friction that has historically limited CPG online commerce.

About SmartCommerce
SmartCommerce is an ML and AI-based data platform that centralizes and optimizes massive amounts of real-time CPG product data to create and support solutions that drive frictionless acceleration of eCommerce for CPG manufacturers and their retailer partners. The company brings deep data and eCommerce experience – the executive team includes several former Channel Intelligence (acquired by Google in 2013) leaders. To learn more about the SmartCommerce Click2Cart technology, please visit: https://www.smartcommerce.co/

About Argentum
Argentum is a New York-based growth equity firm that partners with entrepreneurial owners to build industry-leading B2B software, technology-enabled and business services companies. The firm invests in companies with revenues of $5 million to $25 million, providing capital to accelerate growth, fund acquisitions and / or generate shareholder liquidity. Over its 30-year history, Argentum has invested in 90 companies and supported more than 200 add-on acquisitions. Argentum fills the growing gap between early-stage venture capital investors and later stage growth equity firms by targeting bootstrapped companies seeking $5 million to $15 million of equity capital. To learn more, visit: https://argentumgroup.com