12.August.2021 – The London-based, Aforza announced that it raised USD 22 Million in a Series A round that was led by DN Capital. 

The participants in this round were Next47, Bonefire Ventures, and Daher Capital. 

Aforza raised an undisclosed amount in 2019 by Bonfire Ventures, Daher Capital, DN Capital, Next47 and Salesforce Ventures.

The CEO of the company states that the raised capital will be used in the de3velopment of R&D and increase the workforce over the span of six months. It is working with customers from nearly 20 countries.

About Afroza –

Afroza was started by Dinardo, Ed Butterworth and Nick Eales, in 2019. They all are former veterans from Salesforce. The idea behind starting the company was the condition of the consumer good industry in terms of propelling digitally. 

The startup develops technology on the Salesforce and Cloud platform by Google so that the companies that provide consumer goods can transform digital product distribution and customer engagement to tackle problems like declining market share and unprofitable promotions. 

The company uses artificial intelligence to recommend products and predict the order a retailer can make with pricing and promotions based on factors like demographics.

Then the pandemic happened, which had many of the investors leaning in, which was validation of what Aforza was doing, Dinardo said.

“Even before the pandemic, the consumer goods industry was challenged with new market entrants and horrible legacy systems, but then the pandemic turned off pathways to customers,” he added. “Our mission is to improve the lives of consumers by bringing forth more sustainable products and packaging, but also helping companies be more agile and handle changes as the biggest change is happening.”

For the benchmark for the growth of the company, Dinardo stated that he is utilizing the experience from the startups like Vlocity and Veeva, which Salesforce acquired in 2020.

“We have the money and the expertise — now we need to take a moment to breathe, hire people with the passion to do this and invest in new product tiers, digital assets and even payments,” he said.

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