100.co Strengthens Proprietary AI Platform CLAIRE™ with Acquisition of AI.PARC; Appoints Philip Smolin as Chief Platform Officer
AI.PARC Bolsters 100.co’s Intellectual Property, Further Expanding Its Groundbreaking Market and Customer Intelligence Platform
100.co, the Artificial Intelligence-powered consumer brand group disrupting the Consumer Packaged Goods (CPG) market, has completed the acquisition of AI.PARC, which owns a portfolio of high value Artificial Intelligence (AI), Machine Learning (ML) and Natural Language Processing (NLP) patents. The Company also announced that Philip Smolin, a seasoned Silicon Valley technology executive, will join the leadership team as Chief Platform Officer.
The acquisition will bolster the 100.co CLAIRE™ proprietary AI platform, which analyzes tens of thousands of data points to guide consumer product development, including suggesting market viability, product design and retail strategies for the hard to track Millennial and Gen-Z audiences. Launched in early 2021, 100.co has accelerated new product development by more than 30 percent compared to traditional CPGs, and data-driven insights from its proprietary platform are powering new consumer brands launching later this year in partnership with multiple household celebrity names.
The addition of AI.PARC’s 13 patents will ensure the long-term differentiation and defensibility of CLAIRE’s unique market and customer insights which are powering the next generation of consumer products for digitally native consumers.
“CLAIRE is redefining the future of consumer-packaged products, which is why strengthening its core technology is a strategic priority for 100.co,” said Kim Perell, CEO and Co-founder of 100.co. “These patents are invaluable assets to our platform as they will enable the expansion of 100.co’s groundbreaking market and customer intelligence for years to come.”
AI.PARC’s intellectual property strengthens CLAIRE’s AI capabilities, specifically in the areas of deep machine, human-assisted learning and natural language processing, to produce the most relevant and actionable insights for brand development.
Perell added, “As we continue investing in our AI platform, it was also the right time to expand our technology talent bench. An influential advisor since our founding, Philip brings a wealth of experience in the application of AI tools for market research, go-to-market strategy, and product development. His addition to the team will ensure that our technology platform is leading innovation for years to come.”
Smolin, Chief Platform Officer of 100.co, added, “I am thrilled to join this team at a pivotal time of growth for the Company. 100.co combines AI-powered data-based decision making with a level of creativity that is unparalleled in the CPG industry. As we continue to disrupt how CPG brands are developed and brought to market, I will be focused on ensuring that 100.co’s technology platform evolves and stays ahead of competition.”
Prior to joining 100.co, Smolin served as Chief Strategy and Revenue Officer for advertising giant, Amobee. Before that he spent more than a decade as the head of strategy and product for TURN, where he led the creation of the programmatic advertising and measurement platforms which define the global advertising industry today. A recognized industry leader in marketing analytics and consumer data privacy, he’s a frequent speaker for the Interactive Advertising Bureau (IAB), Digital Advertising Alliance (DAA), Future of TV Advertising (FOTV), and the industry trade press. Smolin has an MBA from Columbia Business School and U.C. Berkeley’s Walter A. Haas School of Business.
Since its launch earlier this year, 100.co has made several strategic investments in its proprietary platform CLAIRE, to accelerate its mission to reinvent the product creation and go-to-market processes legacy consumer brands have relied on for the last century. The Company recently completed the acquisition of Cherry Pick AI, a New York-based predictive intelligence platform for product development.