Verusen, an Atlanta, GA-based global supply chain innovator focused on providing the simplest way to manage materials for global supply chains, announced that it raised $25 million in Series B funding.
The round was led by Scale Venture Partners, with participation from current investors Glasswing Ventures, Flyover Capital, Zetta Venture Partners, Forte Ventures, BMW i Ventures, and Kubera VC. The new funding comes just a year after its $8 million Series A.
The Series B funds will be used to accelerate Verusen’s global footprint, and further build out its AI-driven technology platform expanding the company’s reach in both the Indirect MRO (Maintenance, Repair, and Operations) and Direct Materials space.
Company: AUTIT, Inc.
Round: Series B
Funding Month: January 2022
Lead Investors: Scale Venture Partners
Additional Investors: Glasswing Ventures, Flyover Capital, Zetta Venture Partners, Forte Ventures, BMW i Ventures, and Kubera VC.
Company Website: https://verusen.com/
Software Category: Materials management solution
About the Company: Verusen is a supply chain intelligence innovator focused on the digitalization of the supply ecosystem to conquer materials complexity by leveraging its advanced artificial intelligence (AI), data harmonization, and decision support to help premier global companies attain supply chain resiliency and improve their bottom lines. The company’s platform harmonizes disparate material data across legacy systems and processes while providing trusted data across the enterprise to reduce supplier and operational risk. The result is a data foundation organization can trust to fuel digitalized transformation and support related Supply Chain and Industry 4.0 initiatives.