Advise Secures €1.55 Million to Propel AI Analytics for FMCG Brands
January 11, 2025, 3:32 am
In the bustling heart of Dublin, a startup named Advise is poised to reshape the landscape of fast-moving consumer goods (FMCG) with its innovative AI-powered analytics platform. Recently, Advise secured €1.55 million in funding, a significant boost that will fuel its ambitious plans for global expansion. This funding round, led by Business Venture Partners (BVP), signals a strong vote of confidence in Advise's vision and capabilities.
Founded in 2016 by Dr. Kevin McCarthy and John Phelan, Advise operates under the trading name RecommenderX. The company has made waves in the FMCG sector, achieving a staggering 250% revenue growth over the past year. This impressive trajectory is not merely a stroke of luck; it reflects a growing demand for data-driven solutions among manufacturers who are eager to optimize their pricing strategies and enhance collaboration with retailers.
The FMCG sector is a complex ecosystem, often characterized by fierce competition and razor-thin margins. For decades, retailers have wielded data like a sword, using it to dictate pricing strategies while manufacturers have struggled to gain meaningful insights. Advise aims to level the playing field. Its AI-powered SaaS platform integrates sales, inventory, and customer data from various sources, providing manufacturers with actionable insights that can drive market share and improve profitability.
The recent funding will enable Advise to double its workforce within the next 12 to 18 months, expanding from its current headcount to 30 employees. This growth will focus on engineering, data science, and commercial roles across Ireland, the UK, and the US. As the company scales, it plans to enhance its engineering and data science capabilities while ramping up sales and marketing efforts. The aim is clear: to capitalize on the rising demand for advanced analytics solutions in the FMCG sector.
The global consumer goods market has faced its share of challenges in recent years, from Brexit to the COVID-19 pandemic and geopolitical instability. Yet, Advise sees opportunity amidst the chaos. Manufacturers are increasingly seeking data-driven solutions to navigate these turbulent waters. They want to refine their pricing strategies, develop new products, and optimize promotional activities. Advise’s platform provides the tools necessary for these manufacturers to thrive.
Clients like Pilgrims Europe, Dr. Oetker (Ireland), and Britvic have already reaped the benefits of Advise’s technology. The platform allows them to benchmark performance, compare product success across retailers, and fine-tune promotional strategies. This capability is invaluable in a market where consumer affordability is paramount, especially in light of the ongoing cost-of-living crisis.
The investment from BVP and other existing investors, including ACT Venture Capital, Elkstone, and Enterprise Ireland, will be instrumental in Advise's growth journey. The funding reflects a market confidence in Advise's solution, which addresses a previously unmet need in the FMCG sector. As manufacturers grapple with the pressures of rising costs and shrinking margins, Advise’s platform emerges as a beacon of hope.
Andrew McGreal, Investment Director at BVP, highlights the complexity of the data ecosystem within the retail and manufacturing sectors. Historically, this complexity has made it challenging for companies to extract actionable insights quickly. Advise’s platform, designed specifically for this industry, promises to change that. It enables faster decision-making and provides real insights at a low cost of ownership.
As Advise embarks on this next chapter, the company is well-positioned to become a leader in the FMCG analytics space. The focus on hiring in sales, engineering, and data science will ensure that Advise not only meets the growing demand for its services but also enhances its product offerings.
The future looks bright for Advise. With a robust platform, a clear vision, and the backing of strategic investors, the company is ready to tackle the challenges of the FMCG landscape. As it expands its reach, Advise will continue to empower manufacturers, giving them the insights they need to compete effectively in a rapidly evolving market.
In conclusion, Advise is not just another startup; it is a game changer in the FMCG sector. Its innovative approach to data analytics is set to democratize access to critical insights, enabling manufacturers to reclaim their bargaining power. As the company grows, it will undoubtedly play a pivotal role in shaping the future of retail and manufacturing, one data point at a time. The journey has just begun, and the possibilities are endless.
Founded in 2016 by Dr. Kevin McCarthy and John Phelan, Advise operates under the trading name RecommenderX. The company has made waves in the FMCG sector, achieving a staggering 250% revenue growth over the past year. This impressive trajectory is not merely a stroke of luck; it reflects a growing demand for data-driven solutions among manufacturers who are eager to optimize their pricing strategies and enhance collaboration with retailers.
The FMCG sector is a complex ecosystem, often characterized by fierce competition and razor-thin margins. For decades, retailers have wielded data like a sword, using it to dictate pricing strategies while manufacturers have struggled to gain meaningful insights. Advise aims to level the playing field. Its AI-powered SaaS platform integrates sales, inventory, and customer data from various sources, providing manufacturers with actionable insights that can drive market share and improve profitability.
The recent funding will enable Advise to double its workforce within the next 12 to 18 months, expanding from its current headcount to 30 employees. This growth will focus on engineering, data science, and commercial roles across Ireland, the UK, and the US. As the company scales, it plans to enhance its engineering and data science capabilities while ramping up sales and marketing efforts. The aim is clear: to capitalize on the rising demand for advanced analytics solutions in the FMCG sector.
The global consumer goods market has faced its share of challenges in recent years, from Brexit to the COVID-19 pandemic and geopolitical instability. Yet, Advise sees opportunity amidst the chaos. Manufacturers are increasingly seeking data-driven solutions to navigate these turbulent waters. They want to refine their pricing strategies, develop new products, and optimize promotional activities. Advise’s platform provides the tools necessary for these manufacturers to thrive.
Clients like Pilgrims Europe, Dr. Oetker (Ireland), and Britvic have already reaped the benefits of Advise’s technology. The platform allows them to benchmark performance, compare product success across retailers, and fine-tune promotional strategies. This capability is invaluable in a market where consumer affordability is paramount, especially in light of the ongoing cost-of-living crisis.
The investment from BVP and other existing investors, including ACT Venture Capital, Elkstone, and Enterprise Ireland, will be instrumental in Advise's growth journey. The funding reflects a market confidence in Advise's solution, which addresses a previously unmet need in the FMCG sector. As manufacturers grapple with the pressures of rising costs and shrinking margins, Advise’s platform emerges as a beacon of hope.
Andrew McGreal, Investment Director at BVP, highlights the complexity of the data ecosystem within the retail and manufacturing sectors. Historically, this complexity has made it challenging for companies to extract actionable insights quickly. Advise’s platform, designed specifically for this industry, promises to change that. It enables faster decision-making and provides real insights at a low cost of ownership.
As Advise embarks on this next chapter, the company is well-positioned to become a leader in the FMCG analytics space. The focus on hiring in sales, engineering, and data science will ensure that Advise not only meets the growing demand for its services but also enhances its product offerings.
The future looks bright for Advise. With a robust platform, a clear vision, and the backing of strategic investors, the company is ready to tackle the challenges of the FMCG landscape. As it expands its reach, Advise will continue to empower manufacturers, giving them the insights they need to compete effectively in a rapidly evolving market.
In conclusion, Advise is not just another startup; it is a game changer in the FMCG sector. Its innovative approach to data analytics is set to democratize access to critical insights, enabling manufacturers to reclaim their bargaining power. As the company grows, it will undoubtedly play a pivotal role in shaping the future of retail and manufacturing, one data point at a time. The journey has just begun, and the possibilities are endless.