Triyit, a marketing technology platform based in Glasgow, UK, has raised £1.1 million in growth investment as it prepares for considerable international development.
The company connects fast-moving consumer goods (FMCG) brands with targeted consumers. It plans to expand globally with the goal of tenfolding its present seven-figure sales in the next two to three years. Triyit, which is only available in the United Kingdom, has already collaborated with global brands like Kellogg’s, Mars, and Corona to launch targeted marketing campaigns.
Founder Alex Barron highlighted the recent surge in demand for Triyit’s consumer engagement services, which has led to a tripling of activity and record profits. Barron explained that, despite requests from multinational corporations for global expansion, Triyit took time to fine-tune its offering before pursuing growth both in the UK and internationally.
The new investment will facilitate rapid expansion, focusing on Europe, Australasia, and the US. Importantly, the company is already profitable, so the funding will enable the company to grow rapidly and efficiently.
Since its debut in June 2016, Triyit has been dedicated to building meaningful relationships between brands and consumers. Its product discovery platform enables people to try new products for free at home, resulting in over a million sign-ups and more than 50,000 five-star ratings, making it one of the highest-rated product sampling services.
This engaged consumer base serves as the foundation for Triyit’s other company, which offers data-driven consumer engagement solutions to FMCG brands. The platform allows marketers to target targeted audiences, create user-generated content (UGC), gain consumer insights, and drive growth more efficiently.
Brands spend more than £100 billion globally each year on sampling, consumer insights, and influencer services that fail to resonate with their audiences. Triyit aims to reshape the approach by offering a more targeted and cost-effective solution. Triyit better positions FMCG companies by fusing consumer insights, UGC, and media influence.
The £1.1 million investment was secured primarily through the Investment Fund for Scotland (IFS), managed by Maven Capital Partners and supported by the British Business Bank, along with funding from the Scottish Enterprise Growth Fund. This brings Triyit’s total capital to nearly £1.4 million.
The funds will be used to enhance Triyit’s data science capabilities, improve its technology platform, and extend its services both domestically and internationally.
Reflecting on the company’s journey, Barron recalled the early days when he personally delivered Triyit campaigns in his mother’s Fiat Panda car. With support from organisations like Harper Macleod, Scottish Enterprise, and Scottish Edge, the company has grown significantly, achieving notable progress.
Triyit has been a pioneer in implementing hyper-targeting in product sampling and offers a performance-based guarantee – two distinctive features in the industry.
(Image by aymane jdidi)
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