Retail analytics giant dunnhumby has launched a seed-stage investment fund, dunnhumby Ventures, focusing on innovations in retail technology. The fund will support those 'embracing data for innovations along the consumer's path to purchase'.
The new fund, based in Boston, will also provide strategic input and 'mentorship', and will make average initial investments of $100,000-$500,000. Dave Balter, Global Head of Investments at dunnhumby says the fund is 'looking for retail's game changers... those who are willing to do something no one has done before.' Balter is the founder of five companies, including word-of-mouth marketing company BzzAgent, which was acquired by dunnhumby in 2011.
Initial portfolio companies include San Francisco-based real-time analytics start-up InfoScout, as well as Coherent Path and The Shelf.
dunnhumby, now a wholly-owned subsidiary of its original major client Tesco PLC, employs more than 2,000 employees in offices throughout Europe, Asia and the Americas. Simon Hay, CEO of dunnhumby Ltd, says of the new venture: 'The mobile and digital landscape is opening up innumerable innovative ways for customers to find value and convenience. We are always looking for creative ways to help them and earn their loyalty. The explosion of data is introducing many new opportunities for us to do this.'
Web site: www.dunnhumby.com/ventures .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.