The former founder ofand VC firm Grit Capital just raised $3.3 million in seed round funding for his latest venture, Tradeswell, from Signalfire and Construct Capital— a real-time e-commerce trading platform that he calls "the Bloomberg terminal for e-commerce."
Palmieri said he decided to join Tradeswell as CEO based on his experience as a VC investor, when he says he passed on investing in dozens of DTC companies because they had thin margins and their businesses weren't scalable. Tradeswell says it gives brands a comprehensive look at their e-commerce business across channels including Amazon, Google, Shopify, and Target by consolidating marketing, retail, inventory, logistics, forecasting, lifetime value and financials across these channels in one platform and automating their insights, actions and decisions using machine learning.
For example, Tradeswell claims that a salt-producer brand could improve its forecast accuracy for topline sales from 25% to 70% when it used the platform and realized that it needed to factor in the on-hand inventory from Amazon for the right projections, according to Palmieri. In another use case, a brand may use it to better understand its marketing, optimizing not just for return on ad spend but net margins, he said.
The platform promises to help traditional and DTC brands save millions of dollars in outsourced contracts and tap into the
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »