Consumer goods martech company Adimo has closed its $3.6m seed round of funding, with Maven Capital Partners, Scottish Enterprise, GWC, ESM Investments, Galvanise Capital and LSIP all contributing to the fund that will further fuel its go-to-market operations in the US while scaling activity globally.
Adimo is integrated with over 400 retailers globally, working with market leaders such as Nestlé, Coca-Cola, Arla, Kelloggs, PepsiCo, Danone, The Edrington Group and Bacardi across 60 countries and 40 languages. The Adimo solution natively embeds commerce functionality into digital media and content, making shopping more seamless for customers and empowering greater brand insights on customer behaviors and acquisition channels.
The global fast-moving consumer goods (FMCG) market is projected to reach more than $15tn by 2025, according to ResearchandMarkets, as businesses grapple with the surge of online shopping. However, FMCG digital marketing is still a black box for audience reach, engagement and spending insights. It’s increasingly difficult for FMCG companies to understand sales impact from brand marketing initiatives and leverage these insights to grow their business.
Richard Kelly, founder and chief executive officer of Adimo, said: “Online shopping growth in the FMCG and CPG markets has accelerated significantly over the past year with the pandemic and this has only caused more challenges for brands that are spending significantly on advertising and shopper marketing but gaining little back in consumer insights.
“Our next-gen solution for shoppable marketing provides a seamless experience not only for the end customer but also for the marketer, and we see tremendous opportunity to expand our wide variety of solutions in rapidly maturing markets such as the US over the next year.”
Julie Glenny, investment director at Maven, added: “Digital marketing technology such as Adimo’s is a necessity for any FMCG or CPG company today. There’s a substantial opportunity for these businesses to grow with Adimo’s technology, which is uniquely positioned with its innovative, robust and scalable platform.
"We’re looking forward to supporting them as they replicate their success in Europe and expand into global markets.”
Adimo provides a powerful solution set that integrates with any form of marketing – including display ads, landing pages, websites, social media and video – to make it shoppable. By integrating Adimo’s technology with retailers, shoppers simply select products and add them directly to their online supermarket basket of choice to purchase. Furthermore, purchased products are automatically added to the shopper’s ‘favorites’ list, greatly increasing the chance of repeat purchase – up to 70% of items bought from online supermarkets are from favorites lists.
With typical client ROI in excess of 800%, the Adimo platform gives brands valuable behavioral data about customer decision-making, shortens the path to purchase, maximizes customer conversation and increases purchase intent and brand loyalty. Its real-time analytics dashboard offers a comprehensive range of insights, including products viewed, basket additions and revenue, which can, in turn, be linked to a specific marketing source. This brings previously unavailable e-commerce-level insight to awareness-based marketing.