Gemspring Capital acquired FORM and Trax

Gemspring Capital acquired FORM and Trax and combined the two companies into a single organization intended to bring together field operations software and image recognition capabilities, creating a broader set of offerings for brands and retailers.

The merged company expanded its geographic footprint with operations across North America, Europe, Asia-Pacific, and Latin America and retained a customer base that included Unilever, Southern Glazers Wine & Spirits, Sanofi, AB InBev, and Suntory Global Spirits, among others.

The combined product set includes mobile task management, intelligent workflows, image recognition Artificial Intelligence (AI), photo reporting, advanced analytics, and an extensive library of image recognition models providing SKU-level visibility and shelf-level insights for retail execution and shelf monitoring.

The transaction integrated Trax’s image recognition solution into the FORM product portfolio alongside GoSpotCheck and FORM OpX; Gemspring Capital backed the deal and named financial and legal advisors for each party, and the organizations consolidated leadership from both companies.

“Together, we can deliver more speed, innovation, and impact so customers gain timely, accurate and actionable insights at a global scale,” said FORM CEO Ali Moosani. “We're combining world-class teams and industry-leading technology that will allow our customers to set a new standard for retail execution and shopper experience. Our shared vision is clear, and our customers will see the results.”

“Dashboards don't sell products - decisions and follow‑through do,” said David Gottlieb, Chief Revenue Officer. “By uniting real‑time shelf vision with mobile task execution and global coverage, we are giving retail and CPG teams a single command center to spot issues, act immediately, and measure results at scale. For the customers we serve, speed and clarity win first - and this combination turns shelf intelligence into real growth.”

Gemspring Capital backed the merger, and the new organization will feature a leadership team that combines executives from both FORM and Trax.