Confido has raised a $55 million Series B led by Insight Partners to expand software for finance, sales, accounting and operations teams at consumer-packaged-goods brands. The system brings retailer payments, deductions, trade promotions, sales forecasts and supply plans onto one data layer, replacing the separate records those teams otherwise have to reconcile.
The workflow starts when a retailer pays an invoice but subtracts a promotional allowance or another charge. In a company-published case study, Confido says Idahoan Foods uses the software to retrieve payment records from retailer and distributor portals, check deductions against trade plans, route approvals and post the result into Microsoft Dynamics 365.
What Confido is selling is the connection between those jobs, not another stand-alone forecasting or accounting tool. The company says a changed sales forecast automatically updates supply planning, while a shift in promotional spending reaches finance as a margin impact before cash is spent. Both depend on shared customer, product, contract, promotion and shipment records.
More than 250 consumer brands use Confido, according to the company, including divisions of Unilever, Mars and Nestlé as well as OLIPOP, Simple Mills and Daisy. Confido says customers plan more than $30 billion of retail sales through the system; that figure represents customers’ planned sales, not Confido’s revenue.
The round brings Confido’s total funding to $77 million. Footwork, Trenches Capital, Watchfire, Barrel Ventures and Y Combinator also participated. Confido plans to use the financing to extend its planning products, expand into food service and hire across product, engineering and go-to-market roles.
Confido’s roadmap calls for software agents to retrieve supporting documents, file deduction disputes and revise plans when forecasts change. The company says employees would continue deciding what to launch, where to spend and which customer relationships to prioritize, while the software handles more reconciliation work.