Confido raises $55 million to expand CPG AI tools
The New York startup, which automates finance and trade-spend work for consumer brands including Unilever and Mars, said Insight Partners led the round.
Confido, a New York startup that automates back-office finance work for consumer packaged goods brands, said Insight Partners led a $55 million Series B round. The round brings its total funding to $77 million.
The company said its software automates deduction resolution, trade-spend tracking and sales forecasting for brands including Unilever, Mars, Daisy, Dude Wipes and Kettle & Fire. It said more than $30 billion in retail sales planning now flows through its platform.
Confido said revenue has grown fivefold year over year since its Series A round, according to AlleyWatch. The outlet also reported that Trenches Capital, Watchfire and Barrel Ventures joined the round alongside returning investors Footwork and Y Combinator.
Founder and chief executive Justin Hunter did not disclose the company's valuation. AlleyWatch's report did not include comment from any of the more than 250 brands the company says use its platform.