Trax, a Singapore-headquartered retail-focused computer vision and analytics firm, has acquired Survey.com, a provider of prescriptive sales activation and merchandising services for emerging/mid-market consumer packaged goods (CPG) brands.
Financial details of the acquisition were not disclosed, but Trax said the acquisition would allow it to create a first-of-its-kind closed-loop merchandising system for physical retail.
The deal also enables CPG brands and grocery retailers to harness a computer vision powered, on-demand labor solution to immediately address important merchandising needs in any store, at any time, Trax said in a statement.
“This acquisition allows Trax to serve the unique needs of emerging/mid-market brands, a segment that is a significant source of growth in CPG today,” said Trax chief commercial officer and co-founder Drop Feldheim.
Headquartered in the US, Survey.com provides prescriptive sales activation and merchandising services to brands and retailers through its on-demand, crowd-based workforce of more than 700,000 across North America.
Sales activation typically includes in-store tasks such as speaking with store managers to advocate carrying a brand’s products, gaining approval for promotional activity, or even taking a product order.
Survey.com’s customers include fast-growth emerging/mid-market brands like Califia Farms, GoMacro, Soylent, and Waterloo Sparkling; brokers such as CA Fortune; and a select group of Fortune 500 CPG brands.
“Survey.com will further strengthen and advance Trax’s comprehensive portfolio of solutions through our unique retail intelligence platform, which prescribes data-driven retail strategies for CPG brands and provides an on-demand workforce to execute in-store micro services,” said Panos Bethanis, Survey.com’s CEO and founder.
Trax, founded in 2010 by Joel Bar-El and Dror Feldheim, has been actively acquiring companies across three continents within the last nine months. The acquisitions come together as part of its business strategy to transform the shopper experience by digitizing the physical world of retail and to empower manufacturers and retailers with the data and services to drive shopper experiences at scale.
The company provides computer vision solutions for retailers and brands through computer imaging technology and machine learning. It operates in over 50 countries globally, counting brands like Coca-Cola, Heineken, Nestle, and Henkel among its clients.
Trax is one of the 10 Singapore-headquartered companies that raised more than $100 million in 2019.