— Mobile

Consumer goods software company Aforza bags $22M to open US headquarters – TechCrunch

Aforza, developing cloud and mobile apps for consumer goods companies, announced a $22 million Series A round led by DN Capital. The London-based company’s technology is built on the Salesforce and Google Cloud platforms so that consumer goods companies can digitally transform product distribution and customer engagement to combat issues like unprofitable promotions and declining market share, Aforza co-founder and CEO Dominic Dinardo told TechCrunch.

Using artificial intelligence, the company recommends products and can predict a retailer’s order with promotions and pricing based on factors like locations. The global market for consumer packaged goods apps is forecasted to reach $15 billion by 2024. However, the industry is still using outdated platforms that sometimes lead to a loss of 5% of sales when goods are out of stock, Dinardo said.

Aforza’s trade promotion designer mobile image. Image Credits: Aforza

Dinardo and his co-founders, Ed Butterworth and Nick Eales, started the company in 2019. All veterans of Salesforce saw how underserved the consumer goods industry was in terms of moving to digital.

Aforza is Dinardo’s first time leading a company. However, from his time at Salesforce, he feels he got an education like going to “Marc Benioff’s School of SaaS.” The company raised an undisclosed seed round in 2019 from Bonfire Ventures, Daher Capital, DN Capital, Next47, and Salesforce Ventures.

Then the pandemic happened, which had many of the investors leaning in, which was validation of what Aforza was doing, Dinardo said. Even before the pandemic, the consumer goods industry was challenged with new market entrants and horrible legacy systems, but then the pandemic turned off pathways to customers,” he added. “Our mission is to improve the lives of consumers by bringing forth more sustainable products and packaging, but also helping companies be more agile and handle changes as the biggest change is happening.”

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