Verusen builds an AI-driven technology platform that leverages deep learning, data harmonization, and decision support to help companies manage materials across global supply chains. The platform targets both Indirect MRO (maintenance, repair and operations) and Direct Materials use cases. Led by founder and CEO Paul Noble, Verusen has formed worldwide partnerships with SAP, NTT Data GSL, Accenture, and Machine Compare. The company reported 10X growth in 2021 and serves clients in 25 countries. Verusen plans to use new funding to accelerate its global footprint and further build out its AI-driven platform to improve supply chain resiliency and cost economics. Verusen develops AI-based technology that automatically integrates with enterprise resource management systems to standardize inventory naming, categorize items, and deduplicate records. Its system learns from experts and real actions over time to improve predictions and suggested inventory and procurement optimizations. Customers can accept or decline the platform's recommendations, which aim to optimize allocation and purchasing. Verusen says it helps businesses save an average of $10 million within a three-month period and cites clients including Georgia Pacific, Graphic Packaging, and AB InBev. The company will use new funding to invest in R&D and expand its workforce. Verusen positions its product as enabling digital transformation by connecting disparate and incomplete supply-chain data to trusted business outcomes.

Total raised

$33M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2022