Goliath Gets Big Investment

In the US, marketing intelligence firm GOLIATH Solutions has closed a $27m investment deal. The funds will be used to roll out the firm's real-time proprietary tool which analyzes consumer reaction to store displays, signs and merchandising.

The firm is under contract to install its system at more than 6,200 Walgreens stores nationwide. More than 40 leading consumer packaged goods (CPG) companies currently subscribe to its data.

'With the funding, we will move to quickly fulfil our contract with Walgreens,' explained CEO Bob Michelson. 'We will also accelerate the rollout of our solution to support retailers in the grocery, office, specialty and mass channels.'

The financing is led by Cordjia, a private equity firm which was established by former MBNA executives, and capital investment company, The Walnut Group. They are joined by a syndicate of financing providers which includes CapX Partners, Trinity Capital Investments and Comerica Bank.

Michelson described the investment leaders as having 'deep expertise and relationships in the retail industry', and said both firms are committed to directly helping GOLIATH execute its growth plans.

As a result of the deal, Cordjia and The Walnut Group own more than 50% of GOLIATH, and will be represented on its Board of Directors. In addition, Cordjia has recruited GOLIATH's Chief Operating Officer Chip Messick, a former Vice Chairman at MBNA America.

The company, online at www.goliathsolutions.com , uses patented long-range radio-frequency identification (RFID) technology to track displays within a retail store and combine the information with store sales data. The Illinois firm was founded in 2001.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.