Today, all-in-one FMCG (fast-moving consumer goods) data tool elm announces its public launch and the closure of an approx. €280K investment round, confirming a host of well known UK challenger brands including Minor Figures, Livia’s and Teapigs among its early users.
elm was founded in March of this year and has been available in Beta since July. It allows FMCG brands to automatically unlock, unify and visualise data from every sales account, as well as sending them tailored action points. elm’s custom-built dashboards display retail data by product, region, store or retailer, and calculate LTV and CAC for ecommerce accounts. The tool integrates easily with all retailer and ecommerce accounts from Sainsbury’s Horizon to Shopify. Brands pay a monthly fee to access elm’s suite of data features, with no minimum contract for brands signing up before the end of this year.
Co-founders Emily Prevezer and Cian Kennedy combine extensive knowledge of both data science and growth strategy, having worked for high growth tech startups like Uber as well as FMCG brands including Lucky Saint and Edgard & Cooper.
elm will use the pre-seed investment to build out its engineering team and develop its product, as well as to fuel paid acquisition. The funding comes from 12 angel investors, including Jon Rudoe, formerly Head of Retail at Ocado and Digital Director for Sainsburys, and Ed Freyfogle, co-founder of Lokku.
Cian Kennedy, co-founder, said: “The future of retail is built on data, but today’s FMCG data systems are beyond inefficient, and challenger brands are paying the heaviest price. We’re excited to use this investment to bring big brand data power to every supplier, to make sure brands are judged by the quality of their products, not the size of their data team.”
Jon Rudoe, investor, said: “elm is solving data problems that have slowed the industry for years. It’s already saving brands valuable time and unlocking the sort of insight previously reserved for big name suppliers. Cian, Emily and the elm team are passionate about helping brands use data to grow, and I’m delighted to play a part in that mission.”
Ben Vear, Minor Figures (elm user), said: “Data can be a bit of a mystery for growing brands – you often lack the time or the team to get real value from your sales figures. But with elm, we’re identifying growth opportunities, saving time and taking effective company-wide actions. By unifying physical retail with ecommerce, elm offers a tech-first approach to the new world of FMCG.”
