KPMG Capital takes on equity stake in Label Insight
KPMG Capital, a New York-based global investment fund, took on an equity stake in Label Insight, a provider of software-as-a-service (SaaS) data solutions for consumer packaged goods (CPG) brands, retailers and consumers.
Label Insight’s proprietary technology transforms basic food and beverage product information into smart attributes, such as nutrients and allergens, providing a deep understanding of the product set. These attributes are then customized to meet data views requested by retailers or required to participate in industry efforts, such as the SmartLabel transparency initiative. Label Insight also works with the U.S. Food and Drug Administration (FDA) to support its ongoing initiatives around ingredient and nutrient analysis.
KPMG Capital’s investment led the Chicago-based company’s Series B funding round, which raised $10 million. The investment will allow KPMG member firms to offer CPG clients access to Label Insight’s product data platform and to work with Label Insight to enter new markets and build relationships with retailers, manufacturers and government agencies worldwide.
In particular, member firms’ CPG clients will benefit from Label Insight’s SmartSPEC solution, which helps food and beverage brands participate in SmartLabel, an initiative led by the Grocery Manufacturers Association, Washington, D.C., and Food Marketing Institute, Arlington, Va.
“Label Insight’s pioneering technology addresses a long-standing challenge of exchanging product data between retailers, manufacturers and suppliers,” says Willy Kruh, global chair, consumer markets, KPMG International. “KPMG Capital’s investment in Label Insight will provide member firms’ retail food and beverage clients with access to a single, cross-disciplinary view of product data attributes and marketing claims. This is a platform that can deliver actionable insights on a broad set of relevant risk, cost and growth issues, such as customizing inventory, enhancing customer loyalty with new health and wellness initiatives and streamlining regulation and compliance.”
“Consumers today want an unprecedented level of clarity, and will increasingly give their business to those who make this information available,” says Anton Xavier, Label Insight’s co-founder and CEO. “Label Insight’s transparency marks the new frontier for gaining competitive advantage. Access to this level of product detail is helping retailers, manufacturers and government agencies more clearly communicate important information to consumers regarding nutritional value and food claims.”