Black Founder Raises $20M For Software That Helps Brands Thrive In Brick And Mortar Stores
Confido has raised $20 million in total funding across its Seed and Series A rounds. Footwork led the rounds with participation from Watchfire Ventures, Y Combinator, Boulder Food Group II, Fintech Fund, Barrel Ventures, and a group of strategic angels.
The startup, founded in 2022 by Justin Hunter and Kara Holinski, began by automating Cash Application and Deductions Management. Over the past year, it expanded into Trade Promotion Management and Sales Forecasting, with the mission of giving accounting, finance, and sales teams a single platform to plan, execute, and analyze every retail dollar, as reported by Nosh.
“With our Series A funding, we’re building the AI backbone that will unlock every brand’s retail potential,” the company said in a LinkedIn Post.
What does Confido do?
Confido aims to help brands achieve peak performance on store shelves by addressing the most challenging aspects of retail operations. Its platform manages everything from distributor chargebacks and deduction recovery to retailer-specific trade plans and forecast rollups.
“We want to build the tool to solve the complexity of scaling in retail,” Justin Hunter, Confido’s co-founder and CEO, said. “We have spent countless hours with our incredible customers, learning the ins and outs of how they manage their businesses. We wanted to build something that actually made life easier for Accountants, Finance Managers, and Sales teams.”
That mission has created four powerful modules — Cash Application, Deductions Management, Trade Promotion Management, and Forecasting — each built from the ground up with best-in-class, purpose-built features.
To date, Confido has processed more than $1 billion in deductions on behalf of its customers and expects to have forecasted more than $1.5 billion in revenue through the platform.
Confido’s raise
This new capital will help the company expand its engineering and customer success teams, invest further in automation, and double down on AI efforts to help brands maximize their opportunities.
Confido is also growing its New York team with open roles in Engineering, Sales, and Customer Success.
Image: prostooleh
