Boxed Partners with Snowflake to Provide Spresso SaaS Capabilities to Joint Customers

Rhea-AI Summary

Boxed, Inc. (NYSE: BOXD, BOXD WS) announced on September 22, 2022, that its Spresso SaaS platform is now Powered by Snowflake, enhancing data analytics capabilities for joint customers. This partnership allows Boxed to provide actionable insights aimed at optimizing business operations, improving customer retention, and refining pricing strategies. The Spresso platform, which focuses on modular analytics and machine learning, aims to help retailers streamline processes and improve profitability. The integration with Snowflake’s Data Cloud will enable better data sharing and predictive analytics for enhanced business outcomes.

Positive

• Partnership with Snowflake enhances Spresso's analytics capabilities.
• Spresso allows merchants to optimize pricing, forecast customer value, and reduce churn.
• Integration with Snowflake's Data Cloud provides actionable insights for better business outcomes.
• Spresso's modularized solutions target specific opportunities in retail ecosystem.

Negative

• None.

Advanced Analytics, Machine Learning and Artificial Intelligence Will Be Available to Help Joint Customers Deliver Optimal Business Outcomes

NEW YORK, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Boxed, Inc. (NYSE: BOXD, BOXD WS) (“Boxed” or the “Company”), the commerce technology company specializing as both an e-commerce retailer and e-commerce enabler, today announced that its Spresso SaaS platform is now Powered by Snowflake. Powered by Snowflake is a Snowflake Partner Network program, designed to accelerate the ability of companies and application developers to deliver differentiated applications by supporting them across all stages of the application journey in Snowflake’s Data Cloud.

Spresso solutions deliver actionable insights to help customers scale their businesses effectively by supporting efficient growth and cost reduction. The platform’s modularized analytics and machine learning solutions target specific opportunities in the retail ecosystem, allowing merchants to better forecast customer value, predict churn, optimize pricing for profitability and conversion, and drive efficiencies in packing and shipping.

“Our partnership with Snowflake allows our customers to seamlessly share the data needed to drive Spresso outputs. In turn, Spresso models run in the Snowflake Retail Data Cloud, returning predictive analytics and actionable insights to our mutual customers to achieve better business outcomes,” said Jared Yaman, Chief Operating Officer at Boxed and Spresso Business Head.

Through its Spresso platform, Boxed has been a longtime customer of Snowflake and a member of Snowflake Partner Connect, and now, the Snowflake Partner Network. Spresso tools and modules were built using the Snowflake Native Application Framework, currently in private preview, which enables application developers to build apps using Snowflake core functionalities, globally distribute them on Snowflake Marketplace, and deploy them within a consumer’s Snowflake account. Spresso will soon be available to Snowflake’s Data Cloud Ecosystem, consisting of more than 6,300 customers, and leverage Snowflake enablers such as Snowpark, Snowsight, and other valued marketplace partners.

“Our partnership with Boxed will drive valuable insights for our joint customers, providing them with the analysis they need to optimize their businesses,” said Rosemary Hua, Global Industry GTM Lead, Retail and CPG at Snowflake. “By becoming Powered by Snowflake, Spresso will allow our joint customers to leverage a streamlined implementation with a single source of truth to help them increase profitability, reduce churn, and drive a better customer experience.”

About Boxed
Boxed is an e-commerce retailer and an e-commerce enabler. The Company operates an e-commerce retail service that provides bulk pantry consumables to businesses and household customers, without the requirement of a “big-box” store membership. This service is powered by Spresso (https://www.spresso.com), the Company’s own Software & Service business. From solving challenges with data using machine-learning modules to re-platforming with end-to-end technology, Spresso’s purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies enable better business outcomes for e-commerce customers. The Company aspires to make a positive social impact with an emphasis on good Environmental, Social and Governance (“ESG”) practices, and as such, has developed a powerful, unique brand, known for doing right by its customers, employees and society. For more information, please visit investors.boxed.com.

Media Contacts                                                                         
David Taft
Boxed
dave@boxed.com

Investor Contacts
Chris Mandeville
ICR
BoxedIR@icrinc.com

FAQ

What is the significance of Boxed's partnership with Snowflake for BOXD and BOXD-WS shareholders?

The partnership enhances Spresso's analytics capabilities, potentially leading to improved business outcomes and profitability for Boxed's customers.

How does the Spresso platform improve business operations for Boxed's joint customers?

The Spresso platform provides actionable insights, optimizes pricing strategies, and helps predict customer churn, contributing to more effective business operations.

What new features will Spresso gain from being Powered by Snowflake?

Spresso will deliver enhanced analytics and machine learning capabilities through seamless data sharing and integration with Snowflake's Data Cloud.

When was the announcement regarding Spresso's partnership with Snowflake made?

The announcement was made on September 22, 2022.

Which companies are involved in the Spresso and Snowflake partnership?

The partnership involves Boxed, Inc. and Snowflake.