Maven VCTs lead funding round for B2B SaaS marketing platform Adimo
The Maven VCTs have led a £1.54 million funding round for Adimo, a marketing technology platform that enables FMCG brands to turn their digital marketing campaigns into shoppable experiences.
In today’s connected world consumers are increasingly engaging with content and messaging from a multitude of brands and digital media channels. However, with e-commerce the path from offsite product discovery to purchase is rarely seamless. Adimo’s technology uses real-time information on price, promotions, stock and retailer availability to allow consumers to buy directly from virtually any digital marketing touchpoint they interact with, including display adverts, landing pages, websites, social media and video. Adimo provides FMCG companies with the ability to present consumers with a frictionless online equivalent to in-store impulse purchases.
The COVID-19 pandemic has massively accelerated the growth of online shopping, but this shift presents a challenge for both retailers and FMCG brands as research has shown that consumers are 25% less likely to make spontaneous purchases online. Adimo’s solution provides an effective tool to address this challenge by helping its clients shorten the path to purchase and maximise customer conversions. Crucially, this also allows clients to increase brand loyalty and provides valuable behavioural data insights to marketers on customer decision making.
Adimo works with some of the world’s biggest brands, including Nestle, Arla, Danone, Fever-Tree and Bacardi, helping them optimise their digital marketing strategies and drive efficiencies.
The investment from the Maven VCTs will support Adimo’s expansion into the US market in order to accelerate revenue growth, as well as helping with the development of a highly complementary new product.
“This is an exciting opportunity for the Maven VCTs to back an impressive management team who have developed a highly focused solution that is helping FMCG brands to take control of their data and create a direct link with their end consumers. Adimo has demonstrated strong commercial traction for its product thus far, which is reflected in the number of blue chip customers who have adopted the platform. The e-commerce market is experiencing rapid expansion, which is set to sustain throughout 2021. We look forward to supporting the business as it seeks to capitalise on these growth opportunities.”
Julie Glenny, Investment Director at Maven
"We are thrilled to take the next step on our journey with the backing of Maven. Online shopping growth in the FMCG and CPG markets has accelerated significantly over the past year with the pandemic, and this has only caused more challenges for brands who are spending significantly on advertising and shopper marketing but gaining little back in consumer insights. Our next-gen solutions for shoppable marketing and commerce media provides a seamless experience not only for the end customer, but also for the marketer, and I’m delighted to be working with Maven as we look to expand into rapidly maturing markets, and accelerate our revenue growth.”
Richard Kelly, CEO at Adimo