Trade promo management start-up Cresicor raises $5.6 M to keep tabs on customer invest

Cresicor, a consumer packaged goods trade management platform start-up, raised $5.6 million in seed financing to further establish its tools for more accurate data and analytics.

The company, based from another location, focuses on little to midsize CPG companies, providing them with an automated way to handle their trade promotion, a process co-founder and CEO Alexander Whatley stated is done mainly manually using spreadsheets.

Here’s what takes place in a trade promotion: When a company wishes to run a discount on one of their slower-selling items, the company has to spend cash to do this– to have screens established in a store or have that item on a specific shelf. More individuals will buy the product at the lower rate point if it works. Basically, a trade promo is the process of spending money to get more cash in the future, Whatley informed TechCrunch.

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.