Factor builds AI-powered infrastructure to automate upstream supply-chain processes it calls the "first mile," covering supplier selection, order tracking and execution, and payments. Its platform lets customers bring their own suppliers onto the network and measures supplier outcomes (for example, on-time delivery rates) to inform decisions rather than acting as a marketplace. Factor layers payment features on top of payment processors like Stripe and offers automated payment tools as a differentiator versus traditional ERPs and manual spreadsheets. Its customers (250+), which make complex industrial products in areas such as robotics, medical devices and aerospace and defense, have driven order volume growth of 10x in the past nine months. The company was founded in 2018 by manufacturing veterans Doug Shultz and Michael Szewczyk and emphasizes reducing upstream bottlenecks that can cascade into larger supply issues. Factor plans to expand its financial-services capabilities, add banking partners, and provide financing products to customers.

Total raised

$6M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2021