Stonehenge Know-how Labs needs shopper packaged items firms to realize significant use from all the knowledge they acquire. It introduced $2 million in seed funding for its STOPWATCH commerce enhancement software program.
The spherical was led by Irish Angels, with participation from Bread and Butter Ventures, Gaingels, Angeles Buyers, Bonfire Ventures and Crimson Tail Enterprise Capital.
CEO Meagan Kinmonth Bowman based the Arkansas-based firm in 2019 after working at Hallmark, the place she was tasked with the digital transformation of the corporate.
“This was not a consequence of them not being good entrepreneurs or related to mother, however they didn’t have the know-how to attach their again finish with retailers like Amazon, Walmart or Passion Foyer,” she advised ahosti. “There are such a lot of sensible folks constructing merchandise to attach with shoppers. The problem is the massive guys are doing issues the identical manner and never pondering just like the 13-year-olds on social media which might be truly successful the area.”
Kinmonth Bowman and her group acknowledged that there was a lacking center layer connecting the world of dotcom with brick and mortar. If the center layer could possibly be utilized to the enterprise useful resource plans and combine private and non-private knowledge feeds, an organization could possibly be simply as worthwhile on-line because it could possibly be in conventional retail, she stated.
Stonehenge’s reply to that’s STOPWATCH, which takes in over 100 million rows of knowledge per workspace per day, analyzes the information factors, provides real-time alerts and gives the fitting knowledge to the fitting folks on the proper time.
Dan Rossignol, a B2B SaaS investor, stated the CPG world can also be about consumerizing our life, and the worldwide pandemic confirmed that even at residence, folks might have a productive day and enterprise. Rossignol likes to put money into underestimated founders and noticed in Stonehenge an organization that’s getting CPGs out from beneath antiquated applied sciences.
“What Meagan and her group are doing is de facto fascinating,” he added. “At this stage, it’s all concerning the folks, and the power to wager on doing one thing bigger.”
Kinmonth Bowman stated she had the chance to base the corporate in Silicon Valley, however selected Bentonville, Arkansas as an alternative to be nearer to the greater than 1,000 CPG firms based mostly there that she felt have been the prime buyer base for STOPWATCH.
The platform was initially created as a subsidiary of a consulting firm, however in 2018, certainly one of their purchasers advised them they only needed the software program reasonably than additionally paying for the consulting piece. The enterprise was cut up, and Stonehenge went underground for eight months to make a software program product particularly for the shopper.
Kinmonth Bowman admits the know-how itself is just not that attractive — it’s utilizing precise switch hundreds to extract knowledge from tons of of techniques right into a “lake home,” after which siloing it by retailer and different elements after which presenting the information in numerous methods. For instance, the CEO will need totally different metrics than product groups.
Over the previous 12 months, the corporate has doubled its income and in addition doubled the quantity of contracts. It already counts a number of Fortune 100 firms and rising manufacturers as a few of its early customers and plans to make use of the brand new funding to rent a gross sales group and go after some strategic relationships.
Stonehenge can also be engaged on placing collectively a various workforce that mimics the customers of the software program, Kinmonth Bowman stated. One of many challenges has been to get distinctive expertise to maneuver to Arkansas, however she stated it’s one she is keen to tackle.
In the meantime, Brett Brohl, managing accomplice at Bread and Butter Ventures, stated the Stonehenge group “is simply loopy sufficient, sensible and pushed” to construct one thing nice.
“The entire greatest firms have been round for a very long time, however not a whole lot of massive organizations have executed a great job digitizing their companies,” he stated. “Even pre-COVID, they have been constructing fill-in-the-blank digital transformations, however COVID accelerated know-how and hit a whole lot of firms within the face. That was made extra apparent to finish shoppers, which places extra strain on firms to grasp the necessity, which is nice for STOPWATCH. It went from paper to Excel spreadsheets to the following cloud modification. The time is correct for the following leap and the right way to use knowledge.”