Appriss Retail Acquired by Gemspring Capital
Appriss Retail empowers its customers with a comprehensive, AI-powered omnichannel intelligence platform that protects against fraud and abuse.
Topics
Appriss Retail, a provider of real-time decisioning software and solutions that enable omnichannel retailers to minimise return fraud, mitigate risks, and drive improved shopper experiences, backed by Clearlake Capital Group, L.P. and Insight Partners, announced that it has been acquired by Gemspring Capital.
Appriss Retail empowers its customers with a comprehensive, AI-powered omnichannel intelligence platform that protects against fraud and abuse. The Company’s solutions are trusted by more than 60 of the top 100 US omnichannel retailers, covering 40% of all US omnichannel sales across 150,000 locations.
Previously a division of Appriss, Inc., a provider of data & analytics solutions for real-time risk assessment and mitigation focused on the public safety, healthcare, and omnichannel retail sectors, the Company was spun-off by Clearlake and Insight as a separate business in 2023.
“In collaboration with the management team, we utilized our O.P.S.® framework to enact numerous value-enhancing initiatives, including bolstering the Company’s AI and machine-learning capabilities, driving critical partnerships within the ecosystem, and enhancing the go-to-market strategy,” said Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Managing Director, at Clearlake.
“These initiatives have driven sustained growth and profitability for the Company, while better positioning it to support customers amidst a backdrop of increasing fraud.”
ALSO READ: Appriss Retail Launches SecureGPT
“Appriss Retail has made tremendous strides in advancing fraud prevention technology and delivering real value to omnichannel retailers. Through our partnership over the past decade, Insight has supported the company in scaling its AI-powered intelligence platform, enhancing its go-to-market strategy, and expanding its market reach,” said Deven Parekh, Managing Director, and Krishnan Sastry, Managing Director, at Insight Partners.
“As fraud prevention remains a critical priority for retailers, we believe that Appriss Retail will continue to lead the industry with innovative solutions. We look forward to seeing Appriss Retail’s continued success in this next phase of growth.”
Michael Osborne, Chief Executive Officer at Appriss Retail, said, “We are proud of the significant milestones our team has accomplished in collaboration with Clearlake and Insight. Their strategic support has enabled us to enhance our product portfolio, streamline operations, and cultivate strategic partnerships with customers. As we look to the future, we are excited about the next chapter and the opportunities that await us.”
ALSO READ: ASI Unveils ESP+ Stores
