Funding / Retail / Startups

NoVa’s Datasembly just raised $16M for its retail tech

Noro-Moseley Partners led the round, with additional participation from Grotech Ventures, Topmark Partners and Staley Capital. Here's how the Tysons company will use the funds.

Datasembly's data product. (Courtesy image)

Tysons, Virginia-based Datasembly, a retail tech company, landed a significant investment just ahead of its 10th anniversary.

Datasembly, founded in 2014, just raised $16 million in a Series B round. Noro-Moseley Partners led the round, with support from Grotech Ventures, Topmark Partners and Staley Capital. The startup offers product pricing, promotions and other data in real-time for grocery retailers and consumer goods brands. Data is collected in a web app for sellers to improve efficiency and solve problems.

Ben Reich, Datasembly CEO and cofounder, told that he felt the company continued to see success given the uniqueness of its data, which he said is crucial for retailers looking to understand their current and future positions. Recently, Datasembly announced a Product Matching service that offers the largest base of the highest-quality product matches, providing instant clarity into the competitive product landscape

“This Series B funding is incredibly exciting for Datasembly, especially during this volatile market,” Reich said.

With the funds, the company will be able to sustainably scale and release new tools quickly. The company first plans to increase its investment in the measurement tools that helped shape the startup, which Reich said will help with operational efficiency and company growth.

Thanks to this funding round, Reich said Datasembly also has ample runway to grow its customer base while expanding its product offering. Reich said the company will primarily focus on these goals, but hopes that it will open it up to further success.

“For now, Datasembly is focused primarily on these goals, but with the most comprehensive view of the grocery retail landscape, we’re uniquely positioned to drive new market insights with speed and rich granularity,” Reich said. “We believe transparency is a systematic unlock for today’s trading partners and Datasembly is positioned to open the door to this critical opportunity.”

This raise is more than double the company’s last financial move. In 2021, it raised $7 million in a round led by Valor Siren Ventures. According to Crunchbase, Datasembly raised $10.3 million in a Series A led by Craft Ventures in 2020. Including additional seed rounds, the company has reportedly raised $34.8 million in total.

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