Saskatoon, SK-based BetterCart Analytics is an AI-driven competitive pricing intelligence solution for local and regional grocery chains and CPG brands. The company offers real-time, hyper-local price analytics and competitive intelligence to independent grocers, CPG manufacturers, and food and beverage processors that enable them to increase their profit margins, operational efficiencies, and ROI.
BetterCart received $151,597 in funding for a project to revolutionize price analytics and competitive intelligence for Canada’s food industry. Pilot partners for the project are Fresh City Farms, Jordans Dorset Ryvita, Melitta Canada, and Distribution Canada Inc.
We spoke to Melanie Morrison, founder and CEO of BetterCart Analytics, to hear more about the company and its plans.
Q: What is your company’s mission?
A: Grocery remains the largest non-digitized retail segment on Earth; pricing is the number-one drive of consumer-purchasing behaviour; and 80% of independent grocers and 70% of CPG manufacturers operate without analytics. As a result, the industry is in need of innovation, especially when it comes to the development of pricing technologies. Our mission is to help those companies that have limited access to pricing data and competitive intelligence so they can digitally transform, execute data-driven pricing decisions, and unleash their competitive advantage.
Q: Why did you apply for this funding and how will you use it?
A: I viewed the FoodTech Next Program as a very special opportunity for our company and I was intent on applying from the moment I heard about the program’s launch. We will be using the funding to support our product team as they develop and advance our price analytics and competitive intelligence feature suite.
Q: What excites you most about working in this area of the food industry?
A: The opportunity in this space is vast, and under-served food sector stakeholders are now on the lookout for the type of technology that we are bringing to market. Our goal is to become an industry-leading company known for merging the needs of customers with technology to arrive at truly innovative solutions.
Q: Why is collaboration so important for accelerating innovation in the food industry? Is it difficult to find good collaborating partners, and what would make the process easier?
A: Collaboration is definitely an important ingredient when it comes to accelerating innovation in the food industry. It can be difficult to find collaborators, but what is making the process easier is CFIN. CFIN is offering a ground-breaking centralized hub to start conversations and collaborations from coast to coast to coast. I think as more people become active on the platform, connecting with others who share similar interests and priorities will become just that much easier and the impact will be extraordinary.
Q: Please comment on the importance of public funding to help companies clear innovation hurdles and access leveraged funds.
A: It cannot be mentioned enough times just how important public funding is to technology companies and those in the FoodTech space. Having the opportunity to obtain funding like that offered from CFIN is a game-changer, and will enable many companies to leverage their CFIN success to obtain private investment.
Q: Looking ahead, what’s on the horizon for your company?
A: We will be leveraging the strong strategic partnerships that we have built, and onboarding as many new independent grocers, CPG manufacturers, and food and beverage processors as we can in the next 12 months. Our company will be focused on growth and we will be taking that message to investors as we raise our pre-seed round.
Q: What are your passions or hobbies outside of work?
A: I enjoy film, nature (the ocean, mountains, old growth forests), exercise (when I can), being ambitious, and getting to where I want to go! I love spending time with my family, as there are no other people that can make me laugh quite like they do!
Q: If you had to pick one person to make you a meal, who would you choose?
A: Though I would be very happy to spend time with Dana, I would pick my Mom. My Mom is a phenomenal cook and I have so many fond memories of spending time with her, my brothers, and other family and friends, eating the wonderful food that she created. She is truly an artist and my best friend!
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