Investment enables the company to expand its Analytics-as-a-Service offering, guiding CPG commercial teams to previously-hidden sales opportunities.
Interrodata®, the UK-based analytics software company, announced today an investment of £2.2m from London-based Fuel Ventures. The funding enables Interrodata to realise its ambition of ridding the CPG industry of mundane analytics which have historically put the brakes on the commercial performance of many of the world’s best-known brands.
Interrodata’s proprietary IDA™ platform (Investigative Decision Analytics) automatically makes sense of multiple, complex datasets to bring clarity to sales, marketing and category teams. This enables individuals to outperform their objectives and doubles the pace of brand sales growth. Simple, personalised guidance allows commercial teams at clients like Coca-Cola Europacific Partners and Haleon to move to action fast, based on a common understanding of what’s driving performance.
“These days, most enterprise clients are not lacking in data,” explains David Boon, Founder and CEO of Interrodata, “yet they have limited human capacity to turn all this data into helpful guidance for their management and lead teams. As a result, teams have had to make-do with dashboards, scorecards or high-level monthly market updates – or do their own insight discovery manually.” Interrodata’s innovative software disrupts this – providing every commercial leader with personalised insight and guidance relevant to their role. This gives them the ability to spend their time on making things happen – rather than working out what to do. As a result, work becomes more rewarding and leaders can capture sales opportunities that others would miss.
The funding announcement reflects the strong synergy between Interrodata and Fuel Ventures. “Advanced analytics is an attractive market, expected to double in the next 5 years” explained Mark Pearson, Founder & Managing Partner at Fuel Ventures. “But providing personalised insights and relevant guidance at the individual level is a hard problem to solve. Interrodata have something unique – the encoding of deep industry expertise to their analytic platform, so that it yields helpful guidance for each manager. That’s what enables them to deliver such a strong ROI for their enterprise clients.”
“With demand for our service greater than ever, I’m thrilled to be able to grow the team so that we can serve more clients. Together with our clients we will build strong resilient brands, more exciting careers and new efficiencies in ways of working.” concludes David.
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