Aforza Announces $22 Million Series A Funding
Aforza, the cloud and mobile solution specifically built for the consumer goods industry that empowers businesses to sell more and grow faster, recently announced a $22 million Series A funding round led by DN Capital, with further participation from Bonfire Ventures, Daher Capital, and Next47. Aforza plans on leveraging the funding to double its employee headcount over […]
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Aforza, the cloud and mobile solution specifically built for the consumer goods industry that empowers businesses to sell more and grow faster, recently announced a $22 million Series A funding round led by DN Capital, with further participation from Bonfire Ventures, Daher Capital, and Next47. Aforza plans on leveraging the funding to double its employee headcount over the next six months.
With the global market for consumer packaged goods (CPG) applications expected to reach upwards of $15 billion by 2024, consumer goods companies worldwide are demanding tools that will help support their digital transformation. Unfortunately, companies that used outdated platforms lost at least 5 per cent of sales due to the lack of in-store availability and 70 per cent of money invested into trade promotion programs was unprofitable. In the face of constantly changing regulations and fluctuations, consumer goods companies need to be able to scale and respond quickly, and Aforza’s agile AI predictions are helping customers worldwide drive sales and retain customers.
“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with our cloud and mobile solutions designed specifically for their industry – so they don’t have to cobble together outdated, generic legacy tools,” said Aforza CEO & Co-Founder Dominic Dinardo.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.”
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Aforza’s suite of cloud-based and mobile applications provides real-time insights to help CPG companies digitally transform their route to market. It connects commercial planning and field sales teams together to solve the problems of unprofitable promotions, declining market share and lack of revenue growth. With Aforza, business users can quickly launch targeted promotional campaigns in hours versus days without the need for any technical support. Industry cloud-native, Aforza is built on Salesforce and Google Cloud and uses leading technology in CRM, cloud software and AI to deliver a solution that is secure, agile, scalable and able to seamlessly integrate with the tools its customers are already using.
“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.”
“Addressing a need ignored by traditional cloud solutions, Aforza’s modern cloud and AI technology is digitising the consumer goods industry like never before,” said Bonfire Ventures Partner Brett Queener. “Aforza is that secret weapon behind the smartest companies in an industry that supports an estimated 20 million American employees — more than 10 per cent of U.S. jobs — and uniquely empowers them to adapt to changes in real-time and build emotional connections with their end customers.”
One-third of the world’s spending on consumer goods is in North America. Aforza plans to establish a United States headquarters to aggressively capture the North America market. Research and development will also be an area of focus for the company as it looks to advance its solution into eCommerce, payments and digital asset management
