A DUBLIN COMPANY that takes the ‘mystery shopper’ concept online for the world’s biggest grocery producers has announced a major cash injection as it ramps up its international expansion.
Clavis Insight has received a $20 million (€17.6 million) investment from US venture capital firm Accel-KKR to fuel its growth in the US, Europe and China.
Garry Moroney started Clavis in 2008 and it has since expanded to almost 150 staff across offices in Dublin, Boston, London and Shanghai.
The majority are employed in its Dublin headquarters, where the company handles its main software development and data analysis.
Moroney sold his previous business, software firm Similarity Systems, to US-based Informatica in a cash deal worth nearly $55 million in 2006.
Clavis is expected to double its headcount to around 200 staff in Ireland over the next two years as part of the global push.
The company checks how products from its clients are being sold over the internet – from their availability to how the goods are advertised on e-commerce sites like Amazon and Tesco’s virtual store.
That information can then be used to tweak the online selling process to help suppliers offload more of their products. In return, it charges up to $20,000 (€17,600) per retailer it analyses as part of its service.
Clavis’s software is already used by the world’s 10 largest manufacturers of consumer packaged goods, including Unilever, Nestlé and Mondelēz.
The company, previously known as Clavis Technology, has previously raised money from investors including Dublin venture-capital firm Delta Partners, Enterprise Ireland and millionaire Irish software entrepreneur Jim Mountjoy.
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