Cresicor pledges to streamline and organise promotional data for small to mid-sized consumer packaged goods companies
A B2B platform that pledges to streamline CPG companies’ promotional efforts has raised $5.6 million in seed funding.
Cresicor’s seed round was led by early-stage VC firm Costanoa Ventures with support from Torch Capital.
Cresicor’s software enables businesses to manage and easily store their promotional data, while also analysing the value and effectiveness of each offer it makes to customers.
The platform is marketed towards small to mid-sized CPGs as it helps to transform financial data from trade promotions into actionable insights.
The company was founded in 2017 by Harvard and MIT engineers and a number of CPG veterans.
Alexander Whatley, CEO of Cresicor, said of the platform: “Simply put, the CPG industry is antiquated, filled with fragmented and inefficient processes, making it ripe for disruption.
“Cresicor aims to first provide a solution to trade management for consumer brands, one of the most glaring and painful problems these brands face today,” Whatley said.
Ex-VP of sales for healthy snacks business Perfect Snacks Rich Clark said Cresicor helped to reshape the company’s trade spend management efforts.
“We needed a tool that could take our business to the next level and Cresicor delivered,” Clark said.
Constanoa’s portfolio includes a number of disruptive online B2B platforms including modern data quality monitoring solution Bigeye.
Date published: 14 September 2021