SUNNYVALE, Calif.--(BUSINESS WIRE)--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.
Expert Leadership and Technical Team
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:
- Rajesh Kalidindi—Founder and CEO. Kalidindi founded LevaData to transform supply chains and empower strategic sourcing and commodity managers. He was a supply chain operations executive at Cisco, accountable for sourcing and cost performance across key commodities and third-party manufacturing. Prior to Cisco, Kalidindi led sourcing and operations for semiconductor components and accessories at Palm, Inc., which was subsequently acquired by HP.
- CP Agrawal—CTO. Agrawal is responsible for technology strategy, engineering and data services. He brings over 20 years of experience developing advanced supply chain analytics, optimization, planning and analytics solutions. Most recently, Agrawal was CTO at Steelwedge Inc., where he spent a number of years architecting and developing market-leading business planning software and building a high-performance development team.
- Mark Cosway—EVP Sales. Cosway is responsible for LevaData commercial sales, alliance partners and growth strategies. He brings more than 30 years of experience as a veteran supply chain technology evangelist, working with industry innovators such as GT Nexus, Transvoyant, Excelon, and i2 Technologies.
- Richard Barnett—SVP of Marketing & Customer Success. Barnett is responsible for corporate marketing and customer success processes. He has more than 20 years of experience serving in leadership positions in sales, marketing and product management, in both early-stage and market-leading enterprise software companies, including Infor, GT Nexus and Microsoft.
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. 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, visit www.levadata.com.