episode It has raised $95 million in a Series C funding round to expand its logistics and supply chain platform across a broader set of enterprise use cases.
The company will also invest in top AI talent and deepen its production and engineering capabilities, the company said on Friday (April 17). press release.
“We see every day how much pressure companies are under to manage their supply chains through constant disruption, and how often critical decisions are made on top of fragmented data and fragile systems,” CEO and co-founder of Loop Matt McKinney he said in the release. “This investment allows us to expand our platform and connect the financial and operational data our customers need to make better, faster decisions.”
Loop helps companies reduce costs, improve financial and network visibility, and gain tighter control over working capital by structuring data and automating processes around it, according to the release. The platform is powered by DUX’s suite of artificial intelligence (AI) models and agents designed for logistics and supply chain services.
The company has begun focusing on back-office operations, where data is hidden and the financial impact is high, the statement said.
Loop is now expanding its platform to include supplier, trade, compliance, warehouse, purchasing and inbound logistics data, as well as enhancing communications across enterprise resource planning (ERP), transportation management system (TMS), warehouse management system (WMS) and order management systems, according to the release.
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Antonio thank youFounder, CEO and Chief Investment Officer of Courageous Equity Partnerswhich led the funding round, said in the statement that Loop’s AI systems create actionable intelligence from data that was previously fragmented and inaccessible.
“This foundation extends to other operational and financial functions, which is why Loop is positioned to become the intelligence layer for the entire supply chain,” Gracias said.
Loop was founded in 2021 by former Uber and Flexport engineers and raised $35 million in Series B Financing round In October 2023.
During October 2023 interview With PYMNTS CEO Karen Webster, McKinney said it takes an average of 50 days in the logistics industry to clear a transaction because the data was hidden on both sides, the sales order and the purchase order.
“The entire (logistics) industry is focused on the wrong problem,” McKinney said. “They’re trying to grow revenue and book business, but the back of the house is where all the opportunity lies… There’s a real opportunity here to unlock liquidity by bringing data together.”
