RedCloud is seeking to build the world’s leading B2B trading platform for retailers using AI and Open Commerce. The traction the company has seen in the marketplace with its growth trajectory is remarkable.
Says CEO Justin Floyd, “We experienced 10x revenue growth from 2022 to 2023.”
The corporate focus is on transforming the Fast-Moving Consumer Goods (FMCG) sector through their open commerce platform. This is a multi-trillion-dollar industry which has seen less than 4% e commerce adoption because of the technology challenges involved in the complexities of the daily high velocity trading of hundreds of millions of products.
RedCloud is one of the featured companies slated to present at The Microcap Conference 2024, set for Jan. 30-Feb. 1 at Caesars Atlantic City Hotel and Casino. This three-day conference presented by DealFlow Events features technical programming designed for microcap investors and a presenting company track for pitching and socializing.
Value proposition
“The key to understanding our value proposition is that we benefit both fast moving consumer goods retailers and brands,” Floyd explains. “Just to give you an example – after Guinness, a leading beverage provider came on to our platform to get some exposure to the emerging markets we are in, within 10 months of being on the RedCloud platform over 26,000 new orders were placed, .”
In terms of retailers on the platform – they have realized increased revenues and margins, access to better products and decreased downtime due to digitization and the unique data points the platform provides.
“As we continue to innovate, the data driven insights from our AI engine that retailers will get from our platform will become more and more valuable with typical network affects,” Floyd says. “Our focus initially with our platform are the fastest growing consumer markets, which today are Asia, Africa and Latin America markets, which is a once in a generation opportunity as these countries come online.”
Ultimately, RedCloud technology helps retailers engage with the world’s innovative, fast moving consumer goods (FMCG) brands, and buy at wholesale prices from the multi trillion-dollar FMCG market. The corporate vision is that AI-powered Open Commerce is the future of B2B commerce, leveraging AI-driven search, discovery and trade for existing retailers and the next wave of retailers.
History of the company
RedCloudwas formed in May 2012. RedCloud was set up to acquire DeepTech IP (Intellectual Property) in Cambridge and acquired the payments tech that was used to launch the world’s most successful mobile payments platform M-Pesa.
Key leadership
“We have a very talented, diverse team helping to drive growth for RedCloud, supported by over 300 people from some of the most well-known companies revolutionizing commerce.”
As CEO and an investor, Floyd has extensive experience in building early-stage tech businesses with a focus on technology that helps solve the world’s imbalances. He was previously chairman & co-founder of Vecta, a leading cloud business intelligence company, which sold to Kerridge. Floyd also co-founded CCL, which scaled to $2B trading volume in 2+ years. He was also the co-founder in CMR Surgical (valued. at ~$3B) and an investor in Omnisense.
Floyd has twice been recognized as a regional EY Entrepreneur of the Year finalist, four times a Red Herring 100 Winner, a Codie Award finalist, and a Fast Track 100 finalist.
Looking to the future
“We are not newcomers to the AI space, which has certainly been heavily featured in the media recently,” Floyd notes. “This is a transformational technology whose impact will be felt for generations. We are seeking to use our technology platform to ‘do well by doing good.’ What do we mean by that? Clearly, we want to build massive value for our shareholders. But we are also interested in righting some of the imbalances in the system which put small retailers at a disadvantage.”
As some news stories have covered, companies such as Amazon have not been fairly treating the retailers that are on their platform.
“In fact, they compete with them,” Floyd says. “We stand in stark contrast to that. We want to see a world where retailers win, brands win, distributors win, and RedCloud wins, and consumers benefit as well. Our goal is a win-win situation where we empower retailers, distributors, and brands to make smarter, data-driven, and more profitable B2B decisions / trading of goods – independent of big tech.”
Tickets to the inaugural Microcap Conference 2024 are going fast. Reserve your seat now for three days of unsurpassed networking and technical discussions of the microcap sector with some of the best names in the business – institutional investors, finance-focused law firms, venture and private equity fund managers, deal advisors, PIPE funds, brokerage firms, investor relations professionals, accredited retail investors and many more. The conference schedule is also packed with entertainment and exciting activities set against the backdrop of Atlantic City’s bright lights.
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