And while technology has transformed nearly every aspect of retail, the commercial agreements that underpin the $18.8 trillion industry still rely heavily on spreadsheets, email chains, siloed systems, and informal 'handshake' agreements.
Today, fewer than 50% of suppliers have written agreements with the retailers they sell to.
Handshake's AI-powered platform gives retailers, wholesalers, and suppliers a single transparent system to make, track, and execute commercial agreements, replacing fragmented processes with a faster, more accountable, and data-driven way to manage deals.
The retail industry is already under immense pressure from inflation and cost volatility. Coupled with tighter margins, more complex supplier relationships, and increasingly scrutinised compliance, the need for efficient, scalable deal-making has never been greater.
By seamlessly unifying all commercial agreements in one platform, Handshake strengthens partnerships and empowers retail leaders to drive more effective change across their large trading teams.
Victor Angline, Director of Merchandising Strategy and Supplier Relations at Gopuff, says: "At Gopuff, our merchandising teams oversee hundreds of supplier partnerships across multiple categories, so it's important we have the right tools to manage all the details. We chose Handshake to empower our merchants with a platform that enables seamless management of contracts, agreements, and joint business plans. They have been amazing partners, and we look forward to continued collaboration."
"Technology has transformed almost every corner of retail over the past decade, but retail buying still runs largely on spreadsheets, disconnected systems, and anecdotal memory," says Alex Lindsay, co-founder and CEO of Handshake.
"That creates enormous operational complexity in an industry where margins are tight and every commercial decision matters. We believe there's a huge opportunity to build the AI-native operating system for retail buying, one that gives retailers and suppliers the visibility, structure, and accountability they need to work better together."
This funding will accelerate Handshake's product development, expand its engineering and customer success teams, and support deeper partnerships with leading retailers and suppliers.
Peter Welch, co-founder and CTO of Handshake, adds: "Retail buying is a brutally tough job, and the sector faces structural headwinds that show no signs of easing. The commercial teams at the heart of it deserve better tools, visibility, and outcomes, which is why we built Handshake.
Handshake is a fundamental reimagining of how retailers and suppliers work together, and there's never been a better moment to bring this to the sector. We believe this category is one of the largest untapped opportunities in retail."
Delivering on this vision requires more than modern software. It requires deep retail expertise combined with world-class AI and product engineering. Handshake's team brings together experience across retail operations, enterprise technology, and AI product development to build an operating system designed specifically for the realities of modern commerce.
And if Handshake gets this right, it won't just modernise retail buying, it will help the entire industry deliver better value to millions of customers.
"Handshake is transforming how retailers and suppliers work together, and its team combines the technical depth and category expertise this problem demands. This is a category ripe for disruption in the age of AI," says Cameron Ramsay, Director at Future Back Ventures by Bain & Company.
"Handshake's platform offers a genuinely credible path forward on a problem the entire sector has wrestled with for years. And our Bain experience only reinforced our conviction in both the team and opportunity. Its potential to unlock value across retailers, wholesalers, and suppliers is substantial."
To learn more about Handshake, visit handshake-solutions.com or reach out to hello@handshake-solutions.com.
About Handshake
Handshake is the first AI-powered agreement platform built for retail. Designed to help retailers, wholesalers, and suppliers make, track, and execute commercial agreements in one transparent system, Handshake reduces operational complexity, improves commercial decision-making, and empowers leaders to drive effective change.
Founded in 2024 and headquartered in London, Handshake is backed by Triple Point Ventures, Future Back Ventures by Bain & Company, and Octopus Ventures. To learn more, visit handshake-solutions.com.
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