Teamcore, a retail execution platform with headquarters in Latin America, today announced that it has received a majority growth investment from Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley.
The investment will be used to accelerate Teamcore’s go-to-market strategies, enhance product roadmap and support inorganic growth opportunities that further expand the company’s ability to serve CPGs and retailers in the Americas. Teamcore offers retailers and CPGs a platform from which they gain visibility into inventory rotation and gain critical insights into product availability. The platform comprises Smart OSA, Smart Retail Execution, Online Availability and Smart Promotions.
According to a 2020 IHL Group report, inventory out-of-stocks and overstocks could be costing retailers up to $1.8 trillion in lost sales globally. Teamcore’s retail execution platform helps CPGs gain insights into in-store activities of their products, while enabling both CPGs and retailers to reduce lost sales due to out-of-stock issues, mispriced goods, poor promotional compliance, incorrect shelf placement, or phantom inventory. In a world where maximizing in-store efficiency is vital to the performance of CPGs and retailers, Teamcore has proven to be a mission-critical solution for clients, reducing lost sales by as much as 75%.1
Sergio Della Maggiora, CEO and co-founder of Teamcore, said, “Teamcore was founded on the vision that analytics, automation and workflow optimization are fundamental to helping retailers and CPGs manage complex retail operations. From our humble beginnings in Chile seven years ago, our technology solutions have attracted top-tier clients such as Unilever, Colgate, L’Oréal, Softys, Agrosuper, Carozzi and Watts. Accel-KKR is well-regarded as an experienced software growth investor. We are very excited to work with them to scale the business across Latin America and beyond.”
“The retail store is an important but complex and thin-margined channel that CPGs and retailers have to get right, especially in light of today’s disrupted supply chains, tight labor markets and busy consumer lifestyles,” said Phil Cunningham, Managing Director at Accel-KKR. “Teamcore’s advanced technology seeks to transform in-store data into insights and actions, and helps brands and retailers ensure products are always available for purchase. We believe there is a big market need for solutions like Teamcore and we are excited to partner with the company to tackle that challenge.”
John Crowell, Vice President at Accel-KKR and lead in the firm’s Latin America investments said, “We believe Teamcore is a model of a company in which AKKR seeks to invest: it has a strong management team, offers mission-critical solutions and is targeting a big market opportunity. We intend to leverage Accel-KKR’s resources and growth experience to help Teamcore achieve its growth vision.”
Accel-KKR partnered with SVB Innovation Credit Fund VIII, L.P. on the financing for this investment.
Grant Thornton, KPMG, Morales & Besa, and Perkins Coie served as legal and tax advisors to Accel-KKR.
Tune in to Martech Cube Podcast for visionary Martech Trends, Martech News, and quick updates by business experts and leaders!!!