The software company Spoiler Alert recently raised US$11 million in Series A funding to help fight food waste in the consumer packaged goods (CPG) industry.
Spoiler Alert provides companies with a suite of tools to help them manage unsold inventory, support discounted sales and donation processes to move products, and ultimately reduce the risk of wasting perishable goods. Users of the platform include Nestlé, Kraft Heinz, Campbell Soup Company, and Danone North America.
“One of our core beliefs is that waste is no longer a necessary or acceptable cost of doing business,” says Emily Malina, Spoiler Alert Co-founder and Chief Product Officer in a press release.
In the United States, 35 percent of all food went unsold or uneaten in 2019, according to the ReFED, an organization devoted to ending food loss and waste. Spoiler Alert hopes to help reduce this number, using the new round of funding to expand both its team and the solutions available for its customers. The company believes that this will allow products to reach new channels of distribution.
The investment is led by the venture capital firm Collaborative Fund, with support from Acre Venture Partners, The Betsy & Jesse Fink Family Foundation, Maersk Growth, Spring Point Partners, and Valley Oak Investments.
“I am very proud of what our team has built so far,” says Ricky Ashenfelter, Co-Founder and CEO of Spoiler Alert, “and we look forward to empowering brands and retailers to continue building loyalty with cost- and climate-conscious consumers.”
