GWC co-leads Adimo’s $3.5m funding to accelerate US market expansion
Investors in this round: GWC, Maven Capital Partners, Scottish Enterprise, ESM Investments, and Galvanise Capital
Consumer goods marketing technology company Adimo has just closed a $3.5 million funding round which will be used to accelerate the firm’s expansion into the US market as well as scale globally.
GWC members have significantly increased their investment in Adimo in this latest funding round along with Maven Capital Partners, Scottish Enterprise, ESM Investments, and Galvanise Capital.
Adimo provides brands with the functionality to natively embed commerce functionality into digital media and content. This technology shortens the consumers path to purchase and seeks to maximise conversion.
On the brand side, they have access to real-time analytics that can track a wide range of insights including products viewed, basket additions and revenue. This info can then in turn be linked to a specific marketing source, a feature previously unavailable in grocery e-commerce, awareness-based marketing.
The firm currently works with over 500 retailers and brands including Nestlé, Coca-Cola, Arla, Kelloggs, PepsiCo., Danone, with a presence in 60 countries and 40 languages.
Richard Kelly, founder and CEO of Adimo commented “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,” ” We really value our partnership with GWC who’s members have not only invested in the company but have also introduced us to potential customers.
Ian Leigh, founder of GWC commented “We are very pleased with Adimo’s performance and the team should be congratulated for achieving great results – some big announcements around the corner”
GWC is a network of UHNWIs and Family Offices that invest in early stage UK companies that have disruptive technology. For further information see http://www.gwc.london