We enable CPGs to test and discover new, innovative promotions without risk. - Jamie Rapperport, co-founder and CEO of Eversight
Palo Alto, CA (PRWEB) January 29, 2015
Eversight™, the leading provider of Offer Innovation software designed to improve promotion effectiveness and make better use of trade promotion dollars, today announced that it grew revenue by 300 percent in 2014, and more than doubled its customer base and staff.
Eversight released its SaaS solution, Eversight Cloud™, in January of 2014 and it has quickly become the software of choice for major consumer goods companies looking to dramatically improve their promotions programs. Having more than doubled its customer base, Eversight customers now include an impressive roster of top Consumer Packaged Goods companies (CPGs)—AB InBev, BIC, Kimberly-Clark and Unilever, among other leading brands.
Traditionally, retailers have run the same, uniform price-based promotions year after year, inadvertently eroding prices, while continuing to compress margins. Given the pressure to hit their numbers, many are understandably reluctant to try promotions that have not already been tested. Eversight is disrupting this long-standing trend by combining predictive analytics, data science and behavioral economics to allow manufactures and retailers to micro-test hundreds or thousands of unique offers with retail shoppers before they hit the shelf.
“CPGs spend $300B annually in Trade Promotions, and the way they make decisions regarding what to spend it on has been surprisingly unchanged,” said Jamie Rapperport, co-founder and CEO of Eversight. “We enable CPGs to test and discover new, innovative promotions without risk. In the last year, we’ve helped our customers uncover promotions that yield an unprecedented 20-50 percent improvement in volume sales over standard promotions.”
With interest in Eversight growing, the company recently announced a $9.7M Series A funding round from Emergence Capital, a top enterprise cloud venture capital firm. The company is using the funding to scale its engineering, sales and marketing, service and support teams, and has already doubled its staff.
“As we saw this holiday season, the myriad of options available to shoppers means they are now in the driver’s seat,” said Tom O’Brien, former P&G VP & chief customer officer. “With the growth of omni-channel, the opportunity for a deeper understanding of consumer needs and behaviors is greater than ever. Retailers and manufacturers must find ways to integrate brick and mortar with their digital assets by leveraging online to learn about their consumers, and using this to inform offline offers.”
Headquartered in Palo Alto, Calif. and founded in 2013, Eversight provides Offer Innovation software that helps retailers and consumer goods companies dramatically improve promotion effectiveness and make better use of trade-spend dollars. Eversight disrupts the $300B+ world of trade promotions by combining the latest in predictive analytics, cloud software, data science, and behavioral economics. Eversight Cloud™ enables customers to remove the guesswork and risk from trade promotions by micro-testing thousands of unique offers with real shoppers to find the best performing ones. Eversight serves as a strategic partner to some of the largest CPG brands and retailers, including Unilever and BIC. Promotions based on Offer Innovation have yielded an unprecedented 20-50 percent improvement in volume sales over traditional promotions. Visit http://www.eversightlabs.com to learn more.