Bedrock Analytics, an Oakland, CA-based intelligent analytics and insights automation platform for the Consumer Packaged Goods (CPG) industry, completed a $7.2m financing round.
The round was led by Cervin Ventures and Illuminate Ventures, with participation from other private and institutional investors.
The company will use the funds to accelerate product development and expand on its analytics offering for the CPG industry, as well as hire to fill positions in sales, engineering, customer success, analytics and other functions.
Led by Will Salcido, CEO, Bedrock provides a platform that uses machine learning algorithms and insights automation tools to distill complex data into what matters most to sales, marketing and analytics teams. The platform can produce convincing sales presentations in seconds, providing bandwidth to category management teams and new capabilities to sales teams.
The company also announced the launch of Bedrock Core, version 2.0, its next-generation analytics platform, enabling CPG manufacturers to extract more insights from their data in order to convince retailers to carry and keep their products on shelves.
Clients include Jarritos, Earth Friendly Products, Mary’s Gone Crackers and Beanitos.