From its headquarters in Georgia Tech’s Technology Square, Verusen’s team is on a mission to improve materials management across supply chains.
Verusen’s platform organizes data from disparate inventory systems and helps users predict upcoming inventory needs, two important solutions as companies work to digitize supply chain management.
Founder Paul Noble told Hypepotamus that the startup aims to “provide organizations #MaterialTruth, which consists of eliminating costly, slow and multiple steps of data cleansing for organizations while driving fast and significant business value for inventory, procurement and demand planning.”
The startup is the latest to raise a Series A funding round this year in Atlanta.
Its $8 million Series A was co-led by Atlanta-based Forte Ventures and Kansas-based Flyover Capital, with additional investment from BMW i Ventures.
Previous investors Glasswing Ventures, Zetta Venture Partners, Kubera VC, and Engage also joined the round.
“Verusen has demonstrated an average of $10 million of verified savings opportunities within 90 days for its customers, including Georgia Pacific, Graphic Packaging, AB InBev, and many other manufacturers around the world,” said Tom Hawkins, Managing Partner of Forte Ventures, in a statement. “We invested in the Verusen management team and believe in the strategic value that the company delivers to its customers in the market. We look forward to helping the company scale its business worldwide.”
Atlanta is home to many supply chain and logistics companies, from Fortune 500 corporations to up-and-coming startups.
For Noble, Atlanta was a natural place to build Verusen. “Verusen has been dedicated to the #SupplyChainCity movement proudly represents the Atlanta community around the world as one of the most up and coming innovative global supply chain cities in the US,” Noble told Hypepotamus. “Verusen is extremely passionate about this movement, the emerging startup ecosystem in Atlanta, and the importance of attracting future talent to the city. Verusen has called the city of Atlanta home for 4+ years now, and will continue to do so as there is an abundance of growth opportunities and partnerships, especially in the tech community.”
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