developmentlpo.blogg.se - Fetch rewards careers

This story has been updated with the correct title of David Berk, who is now the company’s group president of product and technology (not its CTO).If you do most of the shopping for your household and want to save money by earning free gift cards, you definitely need receipt scanning apps in your life. The bottom line: This more accurate receipt-scanning technology "translates to better targeting and greater efficiency for partner brands,” said David Sommer, Fetch's chief customer officer, in a statement.

Those insights inform brand campaigns and special offers to maintain market share.Ĭatch up fast: Fetch's $240 million Series E raised last year, which was led by Hamilton Lane, valued the business at more than $2.5 billion, according to Crunchbase.

The data collected is sent to Fetch's corporate partners such as General Mills, which use it to better understand customer behavior.

In exchange, the customers receive rewards such as discounts or free products. How it works: Users scan and upload their receipts via the app.

Retailers, for example, use different codes (some of which go back decades) on their receipts to refer to the same product.īetween the lines: Using Fetch's rewards app, consumer packaged goods companies can gain insight into shopping behavior in legacy brick-and-mortar retailers such as Kroger, Walmart and Walgreens.

While companies can track online purchases easily, they're less adept at tracking in-store purchases at local groceries or convenience stores, Berk says.

What they're saying: The app is a "next-generation computer vision and product intelligence engine that enhances all aspects of receipt understanding, product identification and app performance," per the company.

He declined to comment on the amount of money invested.

Why it matters: While consumer packaged goods companies can track online purchases easily, they're less adept at tracking in-store purchases with no unifying standard for what retailers put on a receipt.ĭetails: Berk says the update was a two-year project, code-named Theia (the Greek Titan goddess of sight), involving roughly 100 people across multiple teams. The next-generation tech is designed to better decipher printed receipts, the company's group president of product and technology David Berk tells Axios. Fetch is unveiling updated receipt-scanning technology for its rewards app Tuesday.