Strongly wants to put some sparkle into your next CPG business promotion campaign – TechCrunch

Supply chain shortages and high gasoline prices have forced consumer packaged goods companies to manage trade more efficiently over the past year to compete with other brands. Add to that a labor shortage, and some brands are finding third parties they relied on are “dropping the ball when it comes to promotion execution,” Alexander Whatley, CEO of Stronglysaid TechCrunch.

“We see brands negotiating 20% ​​off a promotion, but that one may not work, but they’re still charged,” Whatley added.

Since the CPG companies devote more than 20% of their turnover to the management of commercial promotionthat’s where Vividly comes in. Formerly known as Cresicor, the company provides trade promotion management tools for $20 Million Global Consumer Packaged Goods Industryestimated to be worth $25 million in 2028. The tools manage business spend from creating campaigns to planning promotions, forecasting, and managing deductions.

Whatley estimates that customers have seen a 90% reduction in the time it takes to complete business processes and an improvement of more than 20% in planning accuracy.

We profiled the company last year, when it was still Cresicor, and when it raised $5.6 million in seed funding. At the time, its turnover had been multiplied by 2.5 and its workforce by 4, to reach 20.

Cresicor was a business name Whatley coined in 2017 when he founded the company with his brother Daniel, Stuart Kennedy and Nikki McNeil. At the time, he admitted it was “cool”, but as they got more into business promotion, he realized it just didn’t fit.

Strongly promotional business planning

Vividly’s business planning feature. Picture credits: Strongly

“It also sounded like a drug name, so we always knew we wanted to switch brands,” Whatley said. “We help brands process messy data from retailers, feeds and spreadsheets into a clear format and data-driven downstream analytics. It’s basically helping brands that often use opaque processes and bring those issues to light.”

Today, Vividly has since more than quadrupled its revenue and tripled its customer base, which includes CPG brands such as Liquid Death, Bulletproof, and Quinn’s. In addition, the employees have increased to 60.

Additionally, it announced $18 million in Series A dollars, co-led by 645 Ventures and Vertex Ventures US, with participation from existing investors Costanoa Partners and Torch Capital as well as Green Spoon Sales. The new investment, which closed in May, brings the company total funding of $23 million since inception.

As part of the investment, 645 Ventures Managing Partner Nnamdi Okike will join Vividly’s Board of Directors.

Meanwhile, the company will use the new funding to accelerate product development to meet the needs of larger CPG customers and scale its go-to-market team.

Next, Vividly is considering a Series B cycle as it works to build optimization and modules within its platform.

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