Economy Minister Vaughan Gething has congratulated software start-up company Aforza on securing a $22 million funding investment which will see it double its number of employees, establish new headquarters in the US and drive significant product innovation that will benefit consumer goods businesses of all shapes and sizes.
The rapidly-expanding business, which is backed by key Silicon Valley investors, started at the Tramshed Tech working hub in Cardiff with a Research and Development lab and customer support centre.
The Welsh Government supported the company to set up in Wales in 2019, awarding £900,000 from the Economy Futures Fund, with an initial 100 jobs to be created in Cardiff.
As well as driving expansion into the US, Aforza says the $22 million funding round will also see the company creating further high-quality jobs in Cardiff.
Economy Minister Vaughan Gething said:
“Aforza has ambitious plans to revolutionise the consumer goods software industry with its suite of applications that were partly developed in Wales and this funding round will further support its rapid expansion.
“I am delighted the company saw the value of Wales’ vibrant tech sector and decided to establish a base here. As a Government that is committed to backing business, it is so pleasing that our support not only helped Aforza to create skilled new positions in Cardiff during the coronavirus crisis but also supported the company to deliver on its ambitious vision and expansion plans.
“I congratulate Aforza on its impressive success and the $22 million funding investment it has secured. This will facilitate further growth for a company on a steep rise, both here in Wales and in the US and provide new solutions for consumer goods businesses, large and small, right across the world.
Aforza specialises in supplying a complete end-to-end software solution for consumer goods companies that helps them to plan, promote and sell their products more efficiently.
Developed in Wales, its innovative software is used by small independent companies to global corporations in 5 continents and in over 20 countries.
Aforza CEO Dominic Dinardo said:
“When we started the company, our original business plan had us hiring engineers across Europe. Following a discussion between our founders, we were confident that we could do this locally and get access to the high quality talent we needed. This turned out to be one of the best business decisions of my career.
“The trust and support of the Welsh government in the early stages of our company was instrumental to getting started and this next round of funding.