Aforza, developing cloud andfor 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 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 and can predict a retailer’s order with promotions and pricing based on factors like locations. The global market will reach $15 billion by 2024. However, the industry still uses outdated platforms that sometimes lead to a loss of 5% of , Dinardo said.
Dinardo and his co-founders, Ed Butterworth and Nick Eales, started the company in 2019. All veterans of Salesforce leaning in, validating what Aforza was doing, Dinardo said.moving to digital. Aforza is Dinardo’s first a company. However, from his time at Salesforce, he feels he got an 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 investors
“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 change is happening.” , Daher Capital, and Next47 joined DN Capital in the round. Brett Queener, the , said he helped incubate Aforza with Dinardo and Eales, something his firm doesn’t typically do, but saw a unique opportunity to get in on the ground floor.
Also working at Salesforce, he saw the consumer goods industry as a major industry with a compelling reason to make a technology shift as customers began expecting instant availability and tons of time for Aforza to tell the world about its technology, build out its footprint in the U.S. and Europe, invest more in R&D, and execute the Salesforce playbook,” he said. “That is what this round is about.”were coming into the direct-to-consumer space. Those startups don’t have a year or two to pull together the kind of technology it took to scale. With Aforza, they can build a that works online and offline on any device, Queener said. And rather than planning promotions every quarter, companies can change their promotional spending in real-time. “It is
Dinardo intends to use the new funding to continue R&D and double its employee headcount over theas it establishes its new U.S. headquarters in the Northeast. It is already working with customers in 20 countries. As to growth, Dinardo said he is using his past experiences at startups like Veeva and Vlocity, which was acquired by Salesforce in 2020, as benchmarks for Aforza’s success. “We have the money and the expertise — now we need to take a moment to breathe, hire people with the passion for doing this, and invest new product tiers, , and even payments,” he said.