CHICAGO, Dec. 3, 2020 /PRNewswire/ -- CB Insights today named Label Insight to its inaugural Retail Tech 100 ranking, which showcases the 100 most promising B2B retail tech companies in the world.
The 2020 Retail Tech 100 cohort highlights startups reimagining the retail experience across 13 categories, from e-commerce infrastructure to supply chain automation and cashierless checkout. The 21 countries represented this year include India, China, Canada, Singapore, and the United Kingdom, among others.
"The rate of change in retail is accelerating, and the Retail Tech 100 showcases the tech companies that are changing every facet of retail - from store automation to supply chain robotics to personalized merchandise discovery. Spanning 13 distinct technology markets, they address key challenges retailers face today while also helping them adapt and be ready for changing consumer habits," said CB Insights CEO Anand Sanwal. "The honorees also underscore the fact that the best technologies driving retail transformation may come from anywhere as they hail from 21 countries ranging from Canada to Singapore to Brazil to Sweden. As we head into 2021, we are excited to see the impact the Retail Tech 100 will have on customers, retailers, and markets."
Through an evidence-based approach, the CB Insights research team selected the Retail Tech 100 from nearly 15,000 applications and nominees, based on several 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.
"Receiving this recognition is a testament to our passionate team and patented platform. At a time when there are as many U.S. consumers on a health-related eating program as there are automobile drivers, the call for retailers and brands to adopt the noble and profitable cause of serving these needs has never been greater," said Todd Morris, CEO of Label Insight. "We will continue to innovate until every consumer everywhere can find products that meet their individual health, wellness and lifestyle needs."
Founded in 2004, Label Insight is the world's largest and most trusted product attribute metadata platform fueling the data lakes and Customer Data Platforms of leading retailers and CPG brands. Its best-in-class product attribute metadata and patented data science has led to partnerships with leading retail data and insight providers like Nielson and IRI, who recently announced the expansion of their relationship.
About Label Insight
Label Insight drives growth for CPG brands and grocery retailers through unparalleled product transparency. As the trusted partner of over 300 retail banners, over 30,000 CPG brands, and organizations including the FDA, USDA and American Heart Association, its best-in-class product attribute data and patented data science empower companies to unlock new growth opportunities, through trusted content, insights, and activation, both online and in store. Label Insight covers more than 99% of all online consumer queries across over 80 percent of U.S. food, pet, and personal care products with a market-leading database of over 200,000 product nutrients, 400,000 product ingredients and 9 million product claims. For more information, visit labelinsight.com.
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.