London-based consumer goods software company Aforza has announced its latest Series A round of funding.
Aforza’s offering includes cloud and mobile apps built for the consumer goods industry, including AI-led predictions and real-time market insights for commercial planning and field sales teams. With the platform built on Salesforce and Google Cloud, the solution enables the launching of targeted promotional campaigns.
Its customers include those in the food and beverage, alcohol, beers and spirits, consumer healthcare, household products, tobacco, pet care, and consumer electronics industries.
The company’s latest Series A round of funding saw $22mn being raised, led by DN Capital alongside Bonfire Ventures, Daher Capital, and Next47.
“Aforza is on a mission to help consumer packaged goods companies get ahead of competition with our cloud and mobile solutions designed specifically for their industry – so they don’t have to cobble together outdated, generic legacy tools,” said Aforza CEO and Co-Founder Dominic Dinardo. “CPG companies around the world are facing challenges like never before, and with Aforza, they can accelerate their growth regardless of what may come next.”
The company said it would use the funds to double its workforce and establish a new US headquarters in the Northeast.
Citing data suggesting that the market for consumer packaged goods applications is predicted to reach over $15bn by 2024, Aforza said it was responding to demand for rapid digital transformation in the industry – with companies needing to shift with changing regulation and scale rapidly.
“Building on top of two world-leading cloud platforms, Salesforce and Google Cloud, Aforza is transforming the consumer goods industry in the same way Veeva and Vlocity transformed the Pharma, Telco and Energy sectors.” said Thomas Rubens, Partner at DN Capital.
“Aforza is the only cloud platform that seamlessly connects trade planning to field execution in real-time with the most intuitive user experience. This improves the return on trade promotions to a level competing legacy solutions just cannot match. We are extremely excited to partner up with the Aforza team and lead their $22 million Series A round.”
