– USA, CA – LevaData, the Cognitive Sourcing Platform provider that offers global enterprises the ability to improve gross margins by reducing supply chain costs, has announced a $5 million Series A investment from Tola Capital. This funding will enable LevaData to continue to invest in the only solution available today that focuses on improving sourcing and procurement decisions through artificial intelligence.
LevaData customers leverage the LevaData Cognitive Sourcing Platform to continuously identify risks and opportunities for sustainable cost savings based on a combination of consolidated spend analytics across multiple bills of materials, commodity category trends, community benchmarking, and predictive insights based on leading indicators.
“Our vision is to revolutionize the way procurement leaders manage their sourcing and procurement by being able to sense opportunities and risks faster, make smarter decisions, and act effectively using the latest AI technologies,” said LevaData CEO Rajesh Kalidindi. “We are leveraging our roots in supply chain operations to offer a purpose-built Cognitive Sourcing Platform that helps sourcing, supply chain and product engineering professionals make the right part and supplier choices, optimize costs and reduce risk.”
LevaData has raised $5 million in funding from Tola Capital, a leading venture capital firm that focuses on investing in the next wave of enterprise software companies.
“Supply chain innovation is a top area of focus for us at Tola. We couldn’t be more excited to partner with the exceptional LevaData team; they have created a modern, AI-enabled platform for procurement leaders,” said Aaron Fleishman, Principal at Tola Capital, who will be joining LevaData’s Board of Directors in conjunction with the investment.
LevaData was founded by sourcing experts, driven by a passion for empowering sourcing professionals to achieve new levels of performance. The company’s leadership team includes veterans in advanced supply chain analytics and optimization, with decades of experience in driving supply chain innovation. Leveraging insights from working with the top global supply chain leaders, the LevaData executive team is expert in bringing innovative optimization, big data and network collaboration technologies to market. LevaData’s leadership team includes:
About Tola Capital
Tola Capital is a venture capital firm that invests in the next wave of enterprise software companies. The firm provides both capital and hands-on engagement to support the growth of its portfolio companies. Tola Capital targets software companies with products that enable enterprise customers to run their companies more effectively, a solid existing customer base, a strong competitive position, and great talent and culture. Tola Capital invests globally and across multiple stages.
For more information : http://www.tolacapital.com
LevaData, the Cognitive Sourcing Platform, offers global enterprises the ability to improve gross margins by reducing supply chain costs, with a focus on delivering measurable and accountable supply chain solutions and strategies that transform companies and markets. Customers include leaders in the top global supply chain organizations, as well as medium-sized OEMs seeking to achieve best-in-class direct materials sourcing practices. LevaData is privately held and headquartered in Sunnyvale, Calif.
For more information : http://www.levadata.com
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