Confido, a platform that helps consumer packaged goods (CPG) companies manage finance, accounting, sales and operations, has raised $55 million in Series B funding.
The round was led by Insight Partners, with participation from Trenches Capital, Watchfire and Barrel Ventures. Existing investors Footwork and Y Combinator also participated, marking their third consecutive investment in the company.
Founded in 2022 by Justin Hunter and Kara Holinski, Confido provides software that brings key commercial operations together on one platform. More than 250 CPG brands, including Daisy, Dude Wipes, Kettle & Fire and Unilever, use the platform.
Confido said more than $30 billion in retail sales planning currently runs through its platform.
“For decades, CPG software recorded the work but never did it. We built Confido to run it,” said Justin Hunter, Co-Founder and CEO of Confido. “CPG is a game of margins. You cannot run a sharp brand without software this powerful. The brands that matter already run on Confido — the rest will spend years explaining why they didn’t.”
CPG companies often use multiple software systems to manage areas such as trade spending, deductions, forecasting and operational planning. Confido combines these workflows and uses AI-powered automation to help teams resolve deductions, identify financial impacts, improve forecasting and manage operational tasks.
“Confido has been instrumental for us,” Gary Hilderbrand, Chief Financial Officer of MUSH. “It’s given us the visibility and insights we need to have confidence in our forecast, improve accuracy across finance and operations, and ultimately make better decisions.”
The company said it has achieved 5x year-over-year growth since its Series A and its valuation has also increased fivefold during the same period.
“Leading consumer brands are laser-focused on each incremental point of margin. That requires data you can actually trust and every part of the commercial operation moving in sync,” said Rebecca Liu-Doyle, Managing Director at Insight Partners. “Confido makes this possible with an AI-powered system that brings finance, sales, and trade operations into a single platform. We are thrilled to partner with Justin, Kara, and the Confido team as they scale.”
“You don’t back a team three times on a story. You back them on results,” said Larry Fitzgerald Jr., Co-Founder of Trenches Capital and Confido investor. “The teams that win are built so every part works as one system, and that is what protects a brand’s margin. Margin is what gives growth room to run.”
“CPG is a $2.5 trillion category, and the software to run it is a $100 billion-plus market that no company had ever claimed,” said Mike Smith, Co-Founder and General Partner at Footwork. “We backed Confido during the Series A because they understood the back office better than anyone. We’re back because they’re now building the platform that the whole category can run on.”
The latest funding brings Confido’s total funding to $77 million. The company plans to use the new capital to accelerate product development, expand into food service and grow its product, engineering and go-to-market teams.
Confido aims to provide CPG brands with a single system for managing their commercial operations while helping them improve efficiency and protect profit margins.
