Label Insight's platform uses artificial intelligence to analyze food labels and provide consumers with information about the ingredients in their food. This information can help consumers make informed decisions about what they eat. For example, Label Insight can help consumers identify foods that contain allergens or that are high in fat, sugar, or salt.
Label Insight's platform is used by a number of major retailers, including Whole Foods Market, Kroger, and Safeway. The company also works with a number of food manufacturers, including Nestle, Unilever, and Kellogg's.
The new funding round was led by General Catalyst, with participation from existing investors GV (formerly Google Ventures) and Kleiner Perkins. This brings the total amount of funding that Label Insight has raised to $36 million.
"We are thrilled to have the support of such a prestigious group of investors," said Ron Johnson, CEO of Label Insight. "This new funding will allow us to accelerate our growth and continue to provide consumers with the information they need to make healthy food choices."