Interos receives $ 6.5 million from Broadway Angels
Supply chain risk management and operational resilience technology firm Interos said the Broadway Angels, a group of technology investors, have invested $ 6.5 million in the company.
In a December 16 company press release, Interos Founder and CEO Jennifer Bisceglie said the company would use the funding to strengthen its product offering, create more datasets and invest in more data. artificial intelligence (AI).
Interos’ AI-powered solution analyzes data points, helping to manage risks and supply chain disruptions that could cost companies revenue.
Sonja Perkins, co-founder of Broadway Angels, said the company is keen to invest in Interos because of the ongoing global supply chain issues.
“The past year has highlighted the vulnerability of the global supply chain and Interos provides the solution that gives organizations real-time visibility that is essential for business continuity in today’s world,” Perkins said in the statement.
Marcie Vu, who led Broadway Angels’ investment in the business, also called Bisceglie “a visionary and pioneer in the application of artificial intelligence to supply chain risk management.”
“Interos is helping customers solve a critical problem with global reach at scale,” Vu said in the release.
Bisceglie said the partnership “presents a unique opportunity to demonstrate how a women-led investment group and a women-led business can support each other, especially in an area that has long lacked female representation.”
Supply chain issues have been around for some time, with small retailers most affected.
Bisceglie, quoted in a recent PYMNTS article, called him “the haves and have-nots,” saying big retailers like Walmart, Home Depot and Target have the ability to go deep and pay for better air freight. and other things.
In contrast, Bisceglie said small businesses were struggling and “beholden to their local markets”.
Supply chain issues have even extended to companies like Kohl’s, which cited “extended transit times” that left its inventory levels 25% below 2019 levels, and Macy’s, which had levels of. stocks about 15% lower.
Read more: Big box stores better equipped to handle supply chain bottlenecks