Posts tagged with "Albertsons"

Will this food trigger allergies? Label Insight discloses the ingredients

March 26, 2019

Label Insight, a Chicago-based firm that “decodes” and “interprets” food label data for retailers—and, in turn, for U.S. shoppers who want to know more about the ingredients they will be consuming—has raised $21 million in new funding, The Chicago Tribune reports.

The series C round brings the company’s total funding to roughly $35 million; the company closed its last round in January 2016, The Chicago Tribune notes. Delta-v Capital led the round alongside River Cities Capital Funds. Delta-v managing partner David Schaller joins Label Insight’s board along with the deal.

The company—which was founded by brothers Dagan and Anton Zavier in 2008 in order to increase transparency in food, pet, and personal care marketing and enable customers to make more-informed purchasing decisions—claims to offer “more than 22,000 high-order attributes per product.”

Thus, a shopper with an allergy can ask a store rep and quickly figure out what products to avoid. Retailers get a tool to help customers understand what they’re buying, while companies can offer more information to sway ingredient-conscious shoppers.

The company says it works with top brands like Unilever, Conagra, L’Oreal, and Ocean Spray, and its database has information on more than 400,000 products. It provides that information to retailers like AlbertsonsMeijer, and Raley’s.

Earlier this year, Label Insight announced it was expanding into products like pet food, over-the-counter medicine, vitamins and supplements, and personal care items. CEO Paul Schaut said Label Insight plans on building its database to one million items with the new funding.

The series C round brings the company’s total funding to roughly $35 million; the company closed its last round in January 2016, The Chicago Tribune notes. Delta-v Capital led the round alongside River Cities Capital Funds. Delta-v managing partner David Schaller joins Label Insight’s board along with the deal.

“The consumer’s mandate for more information doesn’t stop with what they eat—it includes what they put on their bodies, personal care; it includes what they feed their pets, pet food; or their babies, baby food,” Schaut told the news outlet. “It’s not going to stop at what they buy at the grocery store. You get on a plane, you go to a restaurant, you’re going to want to know more about what you’re eating. Our business is just to support the industry any place the consumer is asking for more information.”

Schaut said Label Insight currently employs about 115 people, split evenly between its Chicago and St. Louis offices. With the funding, it plans to bring that number to 170 within the next 12 months. The hires will be focused on the company’s data science team,s as well as its sales and marketing teams, he said.

Research contact: bmeyerson@chicagotribune.com