OTHRSource was designed to help emerging brands not just survive, but thrive in retail markets. OTHRSouce does this by providing affordable in-store support/merchandising services such as price checking, restocking, and strives to make products look great on the shelf. Florida Funders has committed $150K from Fund 1 into this round of funding, following their initial investment of $400K into the company in February of 2020.
With the funds, OTHRSource will be able to obtain new partnerships through increased retailer alliances and marketing to drive new leads from 25 per week to 100+ per week. Additionally, funds will be used to hire a VP of Sales and expand the sales team as well as fund the developments in the company’s technology.
“OTHRSource was created by passionate retail veterans, and they’re on a clear path towards success. Their revenue has been on a steady upward truant since our initial investment, with an average quarterly growth of over 100% in 2020,” said Tom Wallace, Managing Partner at Florida Funders. “Needless to say, we’re excited by the fact that we will continue to partner with them moving forward.”
The way OTHRSource works with brands is:
- Brands first request OTHRSource to merchandise specific store locations.
- OTHRSource then employs creative individuals, known as “Brand Helpers” via the OTHRSource App to help with the execution.
- The brand then pays OTHRSource the agreed amount of money per merchandised event.
- Finally, OTHRSource pays the “Brand Helpers” per merchandised event at each store they participate at.
“What sets us apart is that our team has ample experience in the field and understands the unique challenges faced by emerging brands, such as how to best lend our support in merchandising, ecommerce, digital, content and data analysis,” said Mark Feinberg, CEO at OTHRSource. “We’ve been able to stay ahead of the competition by conducting industry analysis and then focusing on custom solutions for the unique challenges each brand faces.”
The company has branded itself as “the Uber of in-store support” by offering national coverage whenever and wherever a brand needs it, successfully differentiating themselves from their outdated, slow-moving competitors that often come with large minimums and annual contracts. Additionally, OTHRSource offers store-level recommendations based on services data and sales in order to solve brands’ unique challenges.
OTHRSource has a proven track record with emerging brands such as Roar Beverages, Blue Moose Spreads, Goodwipes, Mother Kombucha, Once Upon A Farm, and many others.
OTHRSource is also about to announce an exciting partnership with a very well known leader (and name) in the CBD/Cannabis space to focus on the growing opportunity in that space and also a large national home improvement chain.
Florida Funders is constantly and actively looking to grow and add investors to their network. They are hard at work seeking new investment opportunities.
Launched to the market in May 2019, OTHRSource is a unique service-based app that understands the needs of emerging brands, because it was created by passionate emerging brand veterans. The flexible solution delivers an unmatched level of service to help small brands keep their products stocked on store shelves, while offering much needed support for retailers by supplementing their in-store teams. Focused on emerging brands since day one, OTHRSource provides access to real-time data and analytics, custom reports including in-store photos, competitor analytics, expiration date verification, damaged product audits and more, keeping backroom to shelf movement in a constant, steady flow. Unlike other platforms, OTHRSource helps ease the burden many brands and retailers face with a team of 4,000+ highly-trained, on-demand Brand Helpers across the country, delivering a simple turnkey solution for traditional grocery, drug and c-stores, big box and independent retailers. To learn more about OTHRSource, visit www.othrsource.com or follow OTHRSource on LinkedIn (@OTHRSource), Instagram (@OTHRSource) and Facebook (@OTHRSource).