• by Laurie Sullivan  @lauriesullivan, September 1, 2022

Instacart has announced the acquisition of a pricing and promotions platform for consumer product goods (CPG) brands and retailers powered by artificial intelligence. 

Eversight, founded in 2013, has built an AI-powered platform that allows CPG brands and retailers to continuously customize and test pricing and promotions with individual customers. 

This automated process has traditionally been a manual and time-consuming one. Instacart now can help brands find the precise pricing and promotions strategies that can help them grow, while running the best deals for customers.

Through the acquisition, CPG brands and retailers gain access to custom pricing tools and dynamic insights through Instacart that connect the dots between online and offline behavior — all to boost sales and growth and as well as enhance customer experiences.

Financial terms of the deal were not disclosed.

Eversight’s CPG and retail partners include many of Instacart’s partners, including Hershey’s, Coca-Cola, and Raley’s.

The Eversight team, including co-founder and Chairman David Moran, will join Instacart as part of the acquisition, although Moran's role at the combined company is not yet determined.

Eversight’s CPG offerings becomes part of the Instacart Ads product and technology suite that provides CPG brand partners with measurable advertising opportunities and insights.

For retailers, Eversight’s retail technology becomes part of the Instacart Platform, a suite of enterprise-grade solutions creates an omnichannel experience for retailers.

Eversight becomes available to retailers through Carrot Insights, Instacart’s data dashboard that tracks key performance and operational metrics for retailers to help optimize operations, and provide more connected online and in-store shopping experiences.

Instacart executives believe that as inflation and the average cost of groceries rise, it’s important to find opportunities to make services accessible for everyone.

When a CPG brand wanted to improve an in-store promotion’s performance, but was concerned about the risks that came with trialling new offers in stores, the company used Eversight to make adjustments to the promotion. The results, according to the company, 10% incremental unit sales growth. The CPG company replaced more than 100 weeks of the old promotion with new offers.

The acquisition comes as Instacart continues to see strong growth. The company set records in 2021, with high orders, gross transaction volume (GTV), revenue, ad revenue, and gross profit. All have carried into 2022.

The acquisition of Eversight marks Instacart’s third acquisition in 12 months. Others include Caper AI, and FoodStorm. The former uses computer vision and other techniques to detect items and ring them up for shoppers, the later helps stores take and manage catering-style larger orders of ready-made food.