BOSTON, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Spoiler Alert, the CPG industry's leading digital platform for managing excess and short-dated inventory, today announced its $11 million Series A round of funding. This investment is led by Collaborative Fund with participation from existing investors, including Acre Venture Partners, The Betsy & Jesse Fink Family Foundation, Maersk Growth, Spring Point Partners, and Valley Oak Investments.
This funding follows the rapid adoption of Spoiler Alert's software solution over the past 12 months. In that time, the company has experienced over 400% growth in gross transaction value and zero customer churn. The platform is used by a growing list of global CPG leaders to digitize their B2B liquidation processes. Customers include Nestlé, Kraft Heinz, Campbell Soup Company, and Danone North America - four of the largest food & beverage manufacturers in the world.
Spoiler Alert's success has risen in parallel with brands' need to respond to supply chain volatility and the growing urgency of the climate crisis. "One of our core beliefs is that waste is no longer a necessary or acceptable cost of doing business," said Spoiler Alert co-founder and chief product officer Emily Malina. "Everything we do is geared towards moving perishable inventory faster to benefit brands, retailers, consumers, and the planet." By using technology and data in smarter ways, Spoiler Alert's customers are proving that investments in waste prevention can have a material impact on both their corporate growth and sustainability targets.
Brands use Spoiler Alert's flexible and private liquidation platform to seamlessly sell their excess, short-dated, and obsolete inventory. This results in increased profitability for brands and a stronger supply of opportunistic inventory for retailers and other closeout channels. "Danone North America has seen significant reductions in finished goods waste and higher returns on its markdown sales program through the introduction of Spoiler Alert's liquidation platform," says Camila Leal, senior manager, Zero Waste at Danone North America.
Spoiler Alert is also powering opportunistic purchasing for one of the fastest growing sectors in retail. This includes discount retailers like Ollie's Bargain Barn and emerging direct-to-consumer companies like Misfits Market. "At Misfits Market, we're building a new food value supply chain to make quality food more accessible and affordable for all," states Daniel Litwin, vice president of procurement. "Spoiler Alert makes it easier and faster to collaborate with our vendors, expand our assortment of high-quality grocery products, and source great deals for our customers."
Spoiler Alert will use this latest round of funding to continue expanding its team and solution offering. This includes investments in platform enhancements to move more inventory through diversified channels, as well as go-to-market efforts to support product category diversification. "Many Americans continue to depend on discount retail to fight food and hygiene insecurity," said Ricky Ashenfelter, Spoiler Alert's co-founder and chief executive officer. "I am very proud of what our team has built so far, and we look forward to empowering brands and retailers to continue building loyalty with cost- and climate-conscious consumers."
As part of this investment, Collaborative Fund's founder and managing partner, Craig Shapiro, will join the company's board. "We focus on high growth companies that are addressing critical trends in climate and food," said Shapiro. "We are strong believers in what Spoiler Alert is building and are excited to activate our portfolio companies' CPG experience to support their growth."
About Spoiler Alert
Spoiler Alert is a Boston-based software company helping perishable CPG brands manage excess and slow-moving inventory. Spoiler Alert offers a best-in-class B2B sales platform that enables food & beverage brands to manage their liquidation processes across a private network of discount retailers and nonprofit channels - with a heavy focus on maximizing value recovery, strengthening customer relationships, and increasing the effectiveness of supply chain managers. To learn more, visit www.spoileralert.com or follow us on LinkedIn and Twitter.
Contact: info@spoileralert.com, 617-917-4123
Related Images
This content was issued through the press release distribution service at Newswire.com.
Attachment
