CB Insights has unveiled the second annual Retail Tech 100 — a list of the top private companies using technology to reshape the shopping experience and make retail operations move faster and sell more.
The 2022 Retail Tech 100 cohort has raised approximately $25.4B in equity funding across 373 deals since 2017. The list includes startups at different investment stages of development, from early-stage companies to well-funded unicorns.
The companies were selected by CB Insights’ Intelligence Unit from a pool of over 7,000 companies, including applicants and nominees.
They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
In 2021, these 100 private companies raised $13.1B in equity funding across 109 deals, triple the amount raised in 2020. Nearly two-thirds of the companies on the list are early- or mid-stage companies, and Thirty-six of them are Unicorns, valued at or above $1B as of their latest funding rounds.
The year’s winners span 19 countries, including notable additions from emerging markets where informal retail is still dominant. Their inclusion indicates that tech companies in locations like these are making progress toward digitizing retail operations.
1 out of the 4 Southeast Asian startups featured was Upmesh, a live commerce enabler compatible with platforms such as Facebook Live and Instagram Live. Its users range from mom-and-pop street shops selling on live streams to supplement foot traffic to specialised Live Commerce sellers moving thousands of SKUs a month.
“We are extremely honoured and humbled to be featured on the 100 Companies Transforming Retail Tech list by CBInsights. This is a recognition we take to heart, and we are excited by the larger acknowledgement that retail is evolving and that our goal to create people-driven e-commerce is on the right path,” says Wong Zi Yang, CEO and Co-Founder at Upmesh.
“We’re thrilled to be expanding further to help live sellers across SEA grow their businesses and create a new future for e-commerce through innovative products.”
