Shelvspace, aiming to transform the way US consumer packaged goods are sold in retail with its cloud-based mobile platform, announced it has received $1 million in seed round funding.Headquartered in Scottsdale Arizona with regional sales in Philadelphia, San Francisco, and Chicago, Shelvspace is a portfolio company of Tallwave, a venture development firm that validates, grows and helps startups commercialize their businesses. Currently, Shelvspace built its Software-as-a-Service (SaaS) solution specifically for the CPG industry in an effort to provide U.S. brands with the ability to sell and promote their products more efficiently.
“We founded Shelvspace because the CPG industry has experienced pain for over 30 years managing a fragmented sales and brokering process,” said , Shelvspace CEO and Co-Founder. “Our mobile tools are making it easier and unlocking competitive advantages and higher profitability for major brands, brokers, and distributors.”
In addition to early-stage venture firm Tallwave Capital and the AngelList Syndicates Fund, investors in the seed round for Shelvspace include several award-winning entrepreneurs including Clark Landry, founder of SHIFT; Sam Teller, co-founder of LA Launchpad; Sizhao Yang, co-creator of Farmville; Jon Roska, founder of Pet360; Mario Martinez, founder of 360 Vantage; Pat Sullivan, co-founder of ACT! and SalesLogix; and Brad Jannenga, co-founder, WebPT.
Shelvspace’s solution has already gained adoption across over 75,000 retail locations and reps that represent over $1.4B in annual product sales. Shelvspace will make use of the funds to launch its enterprise platform and support its first wave of early industry adopters and data partners.
“The CPG industry is ready for the type of innovation that Shelvspace is providing,” said David Tucci, executive director at Consolidated Sales Network, a leading group of over 16 regional brokerages. “Simple, actionable data and next generation mobile execution are keys to driving better industry efficiency and effectiveness.”
