Triyit, the Glasgow based, two sided marketing technology platform today announced that they have raised £1.1million growth funding finance as they gear up for significant global expansion – predicted to increase their 7 figure revenues by ten times within 2-3 years. The business, which specialises in connecting fast moving consumer goods (“FMCG”) brands with target consumers, currently operates exclusively in the UK, and is already delivering campaigns for many global FMCG brands including Kelloggs, Mars and Corona.
Triyit founder Alex Barron said “We have seen demand for our hyper-targeted consumer engagement services skyrocket in recent years, tripling activity and enjoying record profits last year. Despite repeated requests from multinational corporations for us to expand our data-driven services globally, we have deliberately taken the last few years to refine and consolidate our unique offering and are now perfectly poised to accelerate growth in the UK home market and also internationally. Although the business is already profitable, raising this growth funding gives us the ability to scale rapidly both in the UK and for the first time internationally; in Europe, Australasia and the USA.”
Founded in June 2016, with the mission to connect brands and consumers like never before Triyit’s ‘product discovery’ side of the platform was designed to help consumers discover new favourite products and brands, at home, for free. With over 1 million organic consumer sign ups, and over 50,000 5 star reviews, this consumer facing side of the Triyit platform earns the accolade of the highest rated product sampling service in the world https://uk.trustpilot.com/review/triyit.co.uk. This huge, highly engaged community of consumers powers the other, revenue generating, side of the Triyit business. Built around an ecosystem of data-driven consumer engagement services, Triyit’s consumer engagement platform offers FMCG brands a unique way to hyper-target and engage their ideal audience, winning loyal new customers whilst extracting deep consumer insights, quality user-generated content (UGC) and high value earned media influence as part of each activity – a combination that is enabling a huge variety of brands to quickly and cost effectively fuel optimisation and drive growth
Globally, brands spend over £100 billion on sampling, consumer insight, content, and
influencer services each year. Triyit combines all of these elements and is leading the way as brands make the shift from outdated mass drop sampling and old-school research services, to a more targeted, measurable and cost effective approach to driving growth. With agile consumer insight, authentic UGC and trusted media influence all forming a critical part of the strategy behind any fast growing FMCG company, Triyit is perfectly positioned to help brands embrace the change into a digital-first landscape.
Today’s £1.1 million growth funding was raised primarily from the Investment Fund for Scotland (“IFS”), managed by Maven Capital Partners (“Maven”) and delivered by the British Business Bank, and the Scottish Enterprise Growth Fund. Since launch the business has raised almost £1.4 million and has been operating profitably for a number of years.
The funding will be used to support further development of the company’s data science function, bespoke technology platform, and most significantly the planned expansion of the wider service offering in the UK and international markets.
Alex Barron, Triyit founder said, “We are excited to be entering the next stage of our journey and expanding internationally. Today certainly feels a far cry from our early days working out of the E-Spark accelerator, when I had to hand deliver thousands of Triyit campaigns myself – in my mum’s trusty purple Fiat Panda. We’ve had some fabulous support along the way, particularly from Harper Macleod,Scottish Enterprise andScottish Edge who have all played a key role in helping us get to this stage..”
Triyit were the creators of Hyper-targeting – the high level, data driven audience targeting methodology in the product sampling world and are still the only business in the sampling space to have such faith in the quality of their service that they offer a 100% money back guarantee on Performance Sampling activities
Visit https://triyit.co.uk/
