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After launching in October, Tradeswell is announcing today that it has raised $ 15.5 million in Series A funding.
Co-founder and CEO Paul Palmieri previously led digital ad company Millennial Media (now owned by TechCrunch’s parent company Verizon Media), and he said the e-commerce market today is similar to the online ad market when he was leading Millennial — ready for more optimization and automation.
Tradeswell focuses on six components of e-commerce businesses — marketing, retail, inventory, logistics, forecasting, lifetime value and financials — with the key goal of allowing those businesses to improve their net margins, rather than simply driving more clicks or purchases. The platform can fully automate some processes, such as buying online ads.
To illustrate what it can accomplish, Tradeswell pointed to the work it did with a personal care brand on Amazon Prime Day, with total sales doubling versus the previous Prime Day and profits increasing 67%.
The startup has now raised a total of $ 18.8 million. The Series A was led by SignalFire, which also led Tradeswell’s seed round, while Construct Capital, Allen & Company and The Emerson Group also participated.
“With the explosion of ecommerce over the past year, Tradeswell is perfectly positioned to help brands manage the complexity of online sales across an ever-increasing number of platforms and marketplaces,” said SignalFire founder and CEO Chris Farmer in a statement. “Paul and his team bring together a unique blend of experience in data, marketing and logistics to address the challenges of today and a rapidly evolving market in the years ahead with a central command center to optimize profitable growth.”
Palmieri said the new funding will allow Tradeswell to continue investing in the product, which will also mean building more integrations so that more types of data become “more liquid,” which in turn means that the platform can “make much more real-time decisions.”
When Tradeswell launched publicly last fall, it already had 100 customers, and Palmieri told me that number has subsequently grown past 150. Nor does he expect the consumer shift in e-commerce to disappear once the pandemic ends.
“Some of it probably goes back to the way it was, some of it stays online,” he said. “I do think it’s important to point out there’s something in the middle — that something is this notion of high convenience, that is semi-brick-and-mortar with [elements of e-commerce], whether that’s mobile ordering or something like an Instacart.”
Naturally, he sees Tradeswell as the key platform to help businesses navigate that shift.
Hello, I would like to hear stories and strategies of other redditors who are tech enterpreneurs and/or work in optimization or automation of information processing (To reduce the time, effort or risk, for clients, in tasks related to researching, documentation, reporting, information extraction/processing) and succesfully boosted their social media, specially Instagram.
I hope you are willing to share them, it would be great and we all could learn a lot!
Due to COVID-19, business continuity has been put to the test for many companies in the manufacturing, agriculture, transport, hospitality, energy and retail sectors. Cost reduction is the primary focus of companies in these sectors due to massive losses in revenue caused by this pandemic. The other side of the crisis is, however, significantly different.
Companies in industries such as medical, government and financial services, as well as cloud-native tech startups that are providing essential services, have experienced a considerable increase in their operational demands — leading to rising operational costs. Irrespective of the industry your company belongs to, and whether your company is experiencing reduced or increased operations, cost optimization is a reality for all companies to ensure a sustained existence.
One of the most reliable measures for cost optimization at this stage is to leverage elastic services designed to grow or shrink according to demand, such as cloud and managed services. A modern product with a cloud-native architecture can auto-scale cloud consumption to mitigate lost operational demand. What may not have been obvious to startup leaders is a strategy often employed by incumbent, mature enterprises — achieving cost optimization by leveraging managed services providers (MSPs). MSPs enable organizations to repurpose full-time staff members from impacted operations to more strategic product lines or initiatives.
Why companies need cost optimization in the long run
- 20% discount on Cloudfront usage
- Complimentary license of CloudHealth
- Access to in-house team of "Cloud Optimization Specialists"
It seems like a no-brainer, almost too good to be true… I asked how they could offer all of this for free on the initial discovery call and they said that AWS can offer discounts because Onica is essentially aggregating the accounting for them. So AWS pays less in accounting and passes the savings along.
Does anyone have experience with Onica's Cloud Cost Optimization service?
Has anyone been approached by Onica with a cold call like this before?
Any experience and advice is greatly appreciated. Thanks!