2021 starts off on a strong foot for Simporter! Our SaaS startup, which uses Artificial Intelligence (“AI”) to predict consumer demand for new products, closed a seed round led by our very first investors, Startup Wise Guys, with angel investors from Denmark, Estonia, Japan, and other regions. Mitch Barns, former CEO of Nielsen Inc., also invested in the round and joined our advisory board.
“We’re delighted to have Mitch on our board,” said Dillon Hall, co-founder of Simporter. “His expertise will greatly help our mission to empower brands and retailers with AI-driven analytics, so they can thrive in today’s volatile markets.”
Mitch’s story and how he became part of our advisory board
From 2014-2018, Mitch served as CEO and member of the board of Nielsen, an S&P 500 company that operates in +100 countries. He advanced through levels of increasing responsibility over two decades with Nielsen, having started his career at P&G. Currently, Barns helps lead strategy and operations of non-profit Global Leadership Network and serves on the boards of Zappi, The Stable, and advisory board of private equity firm Growth Catalyst Partners. Barns joins Ben Strom on our board. Strom began serving one year ago and brings 18 years’ experience as a portfolio manager and analyst at a variety of institutional firms ranging from long/short equity hedge funds to global asset manager PIMCO.
“I’m excited to join Simporter’s journey. They’re positioned for rapid growth behind technology that helps companies improve their ROI for innovation and product development,” said Barns.
Simporter’s AI software predicts sales for consumer products before and after they go to market. Brands and retailers use our software to pinpoint which products consumers truly want and how much they will purchase. Our proprietary technology analyzes billions of data points from point-of-sales, search traffic, social media sentiment, and customer reviews.
About Simporter’s AI software
Simporter’s AI software predicts sales for consumer products before and after they go to market. Brands and retailers use our software to pinpoint which products consumers truly want and how much they will purchase. Our proprietary technology analyzes billions of data points from point-of-sales, search traffic, social media sentiment, and customer reviews.
“We’re grateful to our investors for this capital to further accelerate our growth,” said Tim Hall, our other co-founder. “Twelve Fortune-500 companies like Danone, Church & Dwight, and Calvin Klein use our software-as-a-service to discover opportunities for innovation; validate new product concepts; and accurately predict consumer demand during disruptions like Covid-19. They’ve been able to increase revenue an average +22% using Simporter.”
See how Simporter can empower your business to automate new product research.