Sifter Secures $5M in Funding, Launches Major Retailer Expansion
Accelerates Growth of Nutrition as a ServiceTM Platform
CHICAGO, May 25, 2022 (Newswire.com) - Sifter SP, Inc. announced today a $5 million Series Seed Round to accelerate the growth of its Nutrition as a Service™ platform and launch of its Sifter Retailer Solutions. This revolutionary technology and turnkey offering enables food retailers to build life-long relationships with consumers by helping them reach their wellness goals. The round was led by Valor Siren Ventures with participation by Hyde Park Angels (HPA) and Wintrust Ventures.
"After founding Peapod and ItemMaster and spending 30 years working in grocery, my brother and I know the right technology can be game-changing. This investment allows us to launch a suite of solutions to help retailers attract and retain the rapidly growing, health-driven consumer segment, which is critical to grocers as shopper wallets tighten," said Andrew Parkinson, Sifter CEO and co-founder.
Sifter Retailer Solutions start where 90% of consumers shop the most — in the physical store — where the biggest technology gap exists today in terms of helping the consumer make informed shopping decisions. Sifter's Scan by Diet solution allows consumers to instantly discover and buy products that match their profile based on their dietary and medical preferences. This is all done quickly on a shopper's mobile phone at the shelf, which is exactly where retailers and shoppers need it to be easy.
Sifter's Nutrition as a Service (NaaS) platform powers the consumer wellness journey beyond the store. It allows them to plan meals with the right ingredients, manage multiple diet profiles for the entire family, and buy online to make healthy eating more convenient. Sifter's evidence-based, regulatory-compliant NaaS filters allow for multiple dietary, food avoidance, and lifestyle preferences in a single search — giving everyone the peace of mind about their food choices.
Sifter unlocks the true value of any existing "shop by diet" technology by easily integrating into a retailer's current systems. Its plug-and-play product suite allows each retailer to mix and match to create the best solution for their specific omnichannel needs.
As Sifter executive chair and HPA managing director, Pete Wilkins explained, "We are excited about the launch of Sifter Retailer Solutions today. It enables retailers to be at the heart of the consumer wellness journey. However, we are not stopping there. We know health professionals, consumer goods companies, and wellness groups and associations are essential partners in helping people eat healthy. Sifter will purposefully launch tailored solutions to those partners in the next year. We are confident that the Sifter Nutrition as a Service platform will continue to make healthy eating easy for everyone. Together, we will make the world healthier."
About Sifter: Sifter is the industry-leading Nutrition as a Service platform that makes healthy eating easy for everyone. Our revolutionary technology, regulatory-compliant dietary data, and tailored solution suites enable our partners to empower consumers to successfully navigate their personal nutrition and wellness journeys. Together, we will make the world healthier. For businesses seeking to leverage Sifter Shop by Diet functionality, visit Sifter.solutions.
About Valor Siren Ventures: The Valor Siren Ventures (VSV) mission is to be the leading innovation engine and investor in early-stage sustainability, food, food technology, retail, and retail technology investing. Rooted in Valor's history of food and retail technology, Valor believes there is an opportunity to develop a new model for venture investing with VSV. Our team aspires to create value by generating differentiated investment opportunities, applying our intellectual capital, and accelerating the growth of portfolio companies through operations assistance in scaling.
About HPA: HPA is a leading early-stage investor. Our People First model leverages world-class operating expertise, a powerful business network and venture capital to fuel startup success. As a result, our founders transform their businesses into industry leaders, our investors generate best-in-class returns and our community experiences job creation and economic growth.
MEDIA CONTACT:
Elana Margolis
elana@sifter.shop
Source: Sifter SP, Inc.
