SAN FRANCISCO, May 14, 2018 (GLOBE NEWSWIRE) -- Alloy.ai, a digital supply chain platform that connects consumer goods companies directly to end-consumer demand, announced today the company has closed $12 million in Series A funding led by Menlo Ventures, with participation by 8VC. The round brings Alloy’s total venture funding to $15.3 million.
Over $20 trillion worth of goods flow through increasingly complex supply chains each year, yet consumer goods companies are largely underserved by modern technology. Brands of all sizes make critical purchasing, manufacturing and allocation decisions based on forecast estimates rather than true consumer demand and downstream operational realities, leading to lost sales and overstocked inventory.
Alloy’s simple, collaborative platform aggregates and analyzes information from all sources in the supply chain, providing actionable insight and complete visibility into consumer demand. Alloy’s platform makes the decision-making process smarter, uncovers additional revenue opportunities, and helps prevent losses for companies that make, move or sell products.
“Technology has driven rising consumer expectations, and keeping up with supply and demand can be overwhelming for companies. Customers like eero rely on Alloy to see how products are moving everywhere they’re sold, in-store and online,” said Joel Beal, CEO and co-founder of Alloy. “We’re pleased to have Menlo Ventures on board as we continue building the platform that gets the right products to the right place at the right time with agility and efficiency.”
The company works with more than 20 customers, ranging from Fortune 100 enterprises to fast-growing startups, including Walker & Company, eero and Soludos.
“Consumer goods companies are facing the most competitive environment in history, and the importance of getting the right product to the right customer at the right time is unprecedented,” said Matt Murphy, Partner at Menlo Ventures. “Alloy’s modern digital platform provides a competitive advantage to these companies by helping them both understand customer demand and react quickly. This is a hard, big data problem and takes this fantastic team to solve it!”
About Alloy.ai
Alloy.ai was purpose-built for companies that make, move and sell goods. Alloy’s platform seamlessly connects data from suppliers, 3PLs, manufacturers, and brick-and-mortar and ecommerce retailers for end-to-end insight into product and operational performance. Alloy was founded in 2017 and is headquartered in San Francisco. For more information, please visit www.alloy.ai.
About Menlo Ventures
Menlo Ventures provides capital for multi-stage consumer, enterprise and life sciences technology companies. Since 1976, the firm's market-driven analysis has led to the identification of opportunities and successful investments in innovative markets. Notable areas of investment include Marketplaces (Uber, Rover.com, Breather, RealtyShares, Getaround); Consumer Services (Machine Zone, Tumblr, Betterment, Poshmark, Roku, Siri); Smart Cloud Infrastructure (Dropcam, 3Par, Avi Networks, Avere Systems, eero); SaaS (Carbonite, Signifyd, Clarifai, Overops, Usermind); Fintech (Betterment, Bluevine, RealtyShares); Cybersecurity (Cavium, IronPort, BitSight, vArmour, Dedrone); and Life Sciences Technology (Synthego, Cofactor Genomics, Recursion Pharmaceuticals, 3T Biosciences). Menlo's portfolio includes more than 70 public companies, and more than 100 mergers and acquisitions, with $5 billion under management. The firm is currently investing in Menlo Ventures XIV, a $450 million early-stage fund, as well as its $250 million Menlo Special Opportunity Fund, which targets early-growth investments. For more information, visit www.menlovc.com.
Press Contact
Hannah Sills
alloy@bulleitgroup.com