The Desire Company—a pioneer in expert product education—announced it has concluded its Series B funding round, bringing its valuation to $97 million. Cleveland Avenue led this funding round, which was supported by Valor Siren Ventures.
This funding round will expand the company’s expert community and elevate content production capabilities to cater to the growing needs of RMNs.
This funding round positions the company to capitalize on the escalating demand for authentic, expert-driven content, particularly from Retail Media Networks (RMNs). It is timely, given the Federal Trade Commission’s heightened focus on transparent marketing practices.
This funding round coincided with the debut of The Desire Company’s Retail RMEDI 360 (Retail Media Expert Distribution Ignitor). And the platform was designed to enable brands and retailers to seamlessly integrate expert product education throughout the shopper experience, empowering consumers with valuable information to make informed purchasing decisions.
With a unique approach to educating shoppers about products, The Desire Company has driven results for over 80 brands. Clients have reported a 12x conversion boost, a 62% increase in time on site, and a 25% growth in average order size.
The Retail RMEDI 360 platform provides brands and retailers with access to a comprehensive suite of tools and seamless integration, streamlining the management and distribution of expert-driven video content. The main features include:
1.) Seamlessly embed expert-driven video content into every part of the consumer journey, from social media to product detail pages (PDP), email, and SMS for post-purchase engagement.
2.) Generate unique shoppable QR codes, enriching the in-store experience by giving consumers access to expert product education content.
3.) Gain valuable insights into video performance, allowing clients to optimize their content strategy and drive engagement effectively.
The Desire Company features an extensive network of experts spanning 114 verticals. Ranging from Olympic athletes to renowned chefs, leading nutritionists, veterinarians, and celebrity makeup artists, The Desire Company’s experts bring credibility and expertise to shoppers, sharing real-world experiences in authentic video reviews.
Founded by entertainment marketing executive Eric Sheinkop, and Coca-Cola Company veteran Judith Levey Sheinkop, The Desire Company transforms the retail marketing landscape by prioritizing credible industry experts over social media influencers.
KEY QUOTES:
“With the close of our Series B raise, and the launch of The Desire Company’s Retail RMEDI 360 platform, we’re not just introducing a new product, we’re setting a new standard for retail media technology. Brands and retailers are seeking to expand beyond their traditional commerce media models and integrate trusted product information directly into their shopper’s purchasing journey. Our platform promises to transform how shoppers access product education at the crucial point of decision.”
- Eric Sheinkop, Co-Founder and CEO of The Desire Company
“As brands increasingly reallocate their advertising investments towards Retail Media Networks, we believe The Desire Company is poised to capitalize on their demand for product education content that drives results at retail. To us, their expert review solution stands out for its authenticity, cost-effectiveness, and proven efficacy.”
- Jon Shulkin, Co-President, and Partner at Valor Equity Partners
“By pairing brands with credible industry experts, The Desire Company empowers shoppers to be informed, not influenced. As the only provider of authentic expert product review videos, we stand as the reliable solution to combat the proliferation of fake reviews.”
- CEO Eric Sheinkop
