Accel-KKR Makes Majority Growth Investment in Teamcore, a Leading Retail Execution Platform for CPGs and Retailers in Latin America
Investment to Accelerate Company’s Go-to-Market Strategies and Catalyze Strategic M&A Opportunities
Menlo Park, CA, Mexico City, Mexico & Santiago, Chile – August , 2022 – Teamcore, a retail execution platform with headquarters in Latin America, today announced that it has received a majority growth investment from Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley. The investment will be used to accelerate Teamcore’s go-to-market strategies, enhance product roadmap and support inorganic growth opportunities that further expand the company’s ability to serve CPGs and retailers in the Americas.
According to a 2020 IHL Group report, inventory out-of-stocks and overstocks could be costing retailers up to $1.8 trillion in lost sales globally. Teamcore’s retail execution platform helps CPGs gain insights into in-store activities of their products, while enabling both CPGs and retailers to reduce lost sales due to out-of-stock issues, mispriced goods, poor promotional compliance, incorrect shelf placement, or phantom inventory. In a world where maximizing in-store efficiency is vital in enabling CPGs and retailers to hit their bottom lines, Teamcore has proven to be a mission-critical solution, reducing lost sales by as much as 75% for clients. (management’s assessment based on an annual impact study of their top 15 clients).
Sergio Della Maggiora, CEO and co-founder of Teamcore, said, “Teamcore was founded on the vision that analytics, automation and workflow optimization are fundamental to helping retailers and CPGs manage complex retail operations.
From our beginnings in Chile seven years ago, our technology solutions have attracted top-tier clients such as Unilever, Colgate, Loreal, Softys, Agrosuper, Carozzi and Watts. Accel-KKR is well-regarded as an experienced software growth investor. We are very excited to work with them to scale the business across Latin America and beyond.”
Teamcore offers retailers and CPGs a platform from which they gain visibility into inventory rotation and gain critical insights into product availability. The platform comprises Smart OSA, Smart Retail Execution, Online Availability and Smart Promotions.
“The retail store is an important but complex and thin-margined channel that CPGs and retailers have to get right, especially in light of today’s disrupted supply chains, tight labor markets and busy consumer lifestyles,” said Phil Cunningham, Managing Director of Accel-KKR.
“Teamcore’s advanced technology transforms in-store data into insights and actions, and helps brands and retailers ensure products are always available for purchase. There is a big market need for solutions like Teamcore — we are excited to partner with the company to tackle that challenge.”
John Crowell, Vice President of Accel-KKR and lead in Accel-KKR’s Latin America investments, said
“Teamcore is a model of what an AKKR company looks like: a strong management team, mission-critical solutions and a big market opportunity.
Together we will tap into Accel-KKR’s resources and growth experience to help Teamcore achieve its growth vision.”
- Accel-KKR partnered with SVB Innovation Credit Fund VIII, L.P. on the financing for this investment. Grant Thornton, KPMG, Morales & Besa, and Perkins Coie served as legal and tax advisors to Accel-KKR.
- Teamcore partnered with VEI lawyers and EY as legal and tax advisors for this transaction.
Founded in 2015 in Santiago, Chile, Teamcore enables retailers and CPGs to manage the in-store availability of their products and gain BI/insights into their stock and performance. Teamcore’s algorithm generates and prioritizes customizable action plans for CPG’s field reps, enabling them to better prioritize their time and target higher priority lost sale opportunities.
At a global scale, lost sales represent a $1 Trillion market opportunity and by leveraging its machine learning platform, Teamcore has proven to increase the POS growth of their customers by 3.0% to 5.0%. For more information, please visit teamcore.net.
Accel-KKR is a technology-focused investment firm with $14 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.
Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, London and Mexico City. Visit accel-kkr.com to learn more.