2021 - Our Year In Review

Andreas Willgert

CEO & Co-Founder

As we welcome in a new year, here are a few choice highlights from 2021. 

It was a very good year for Formulate. We learned a great deal from our customers, who managed so well (again) in very challenging conditions, and we learned a great deal from each other too. 

In good company

We kicked off 2021 with fantastic Swedish customers. We ended it with a few more of them 🇸🇪, and customers in 3 new markets too – Denmark, Estonia and the US. 🇺🇸 🇪🇪 🇩🇰

Velkommen, tere tulemast, and welcome!

This helped us nearly 3X our MRR. 🚀

And we did it with the help of 7 new colleagues across our data science, product, sales, and customer success teams. 👋

We grew to 22 people, representing 8 countries, speaking 10 languages. 🙋 🙋 🏋️

So we really are in good company.

And, since one of our colleagues owns a brewery, we even took the chance to celebrate with a Hybris beer or two. So cheers to that! 🍻

Product and productivity

We also pushed our product forward in lots of exciting ways. 

In response to great feedback from our community 👥, we created the world’s first full-service promotions management suite, something we're exceptionally proud of. ✅

Here’s what we did:

Plan

👥 Our community spoke: “we need a tool to properly plan promotions”. Tools that “should integrate with our existing ERP systems”.

🛠 We built Plan. Now you can easily create, edit, forecast, optimise, and export plans inside our app. Read more about Plan.

Nominate & Optimate

👥 Our community spoke: “We need help deciding which promotions we should run and when. And by how much should we discount them? 

🛠 We built Nominate & Optimate, a service that identifies your most promising promotions every week according to your objective: to drive sales, profit, or store traffic. Read more about Nominate & Optimate

Enabling high tech through low tech

👥 Our community spoke: “we need to be able to share and edit plans outside Formulate”.

🛠 We made it possible to access the Formulate engine via low-tech tools, such as Excel. Now you can download your promo plan, tweak it in Excel, re-upload the adjusted version into Formulate, and get instant feedback on the plan. Read more about our integrations.

2022 - looking ahead

We’re looking forward to an exciting 2022!

We Formulators are a colourful crew, with plenty of creativity, drive, humour, and strong will (and we're always looking for great new colleagues). This year we’ll keep pushing for change within retail.

The reality is most retailers struggle to collect quality data to make promo decisions. It's error-prone and hugely time consuming.

Few have the capacity to analyse promo outcomes that can be used across their business.

And truly data-driven retailers with integrated analytics at the core of their promotions processes remain a rare breed. 

This is something that we want to change. It has to change. And 2022 is the year to do it!

/ Andreas 👋

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