CB Insights today named Halla, the Taste Intelligence company and creator of the only human preference engine designed for grocery, to its Retail Tech 100 ranking, which showcases the 100 most promising B2B retail tech companies in the world.
The 2022 Retail Tech 100 cohort highlights startups reimagining the retail experience across 13 categories. This year’s winning companies are working on hyper-personalized shopping, blockchain-powered commerce, autonomous delivery, virtual shopping, and more. 19 countries are represented this year, including India, China, Mexico, Singapore, and the Netherlands, among others.
“By almost any measure, this has been a breakout year for retail tech. We’ve seen skyrocketing funding across the industry, powering companies involved in every aspect of retail from instant grocery delivery to supply chain technology,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “In 2021 alone, these 100 companies raised $13.1B in funding, an incredibly impressive feat. As the retail landscape evolves, we’re excited to see how the companies on the Retail Tech 100 continue to revolutionize how consumers shop.”
“We’re honored to have Halla’s Taste Intelligence engine recognized as an important contribution to the future of grocery,” said Spencer Price, co-founder and CEO of Halla. “To provide an exceptional customer experience today, retailers must be able to recognize customer intent, and then present options that meet customers’ individual needs across all touchpoints in real-time. This is not only a nod to Halla for solving this imperative in one engine, but also to our grocery partners who have recognized these new consumer expectations and achieved double-digit basket size growth by meeting them.”
Through an evidence-based approach, the CB Insights research team selected the Retail Tech 100 from a pool of over 7,000 companies, including applicants and nominees. Selection was based on factors including patent activity, business relations, investor profiles, news sentiment analysis, proprietary Mosaic Scores, market potential, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum. To find out more about the selection process and this year’s winners, join the CB Insights team for a webinar today at 2 p.m. ET.
Halla’s Taste Intelligence engine has redefined personalization in grocery by introducing a solution that predicts what individual customers will want to buy next. Its API-first technology can easily plug into any digital touchpoint within the grocers’ existing platform. The engine leverages over 100 billion shopper and product data points to predict, with remarkable accuracy, what grocery shoppers are actually looking for, and delivers real-time personalized search results, substitutions and recommendations. Halla has been deployed in over 1,100 ecommerce storefronts for multiple top-50 U.S. grocers, driving best-in-class digital ad media performance and improvement in ecommerce profitability.