10 Feb Our investment in Leverage
Supply chain and logistics is one of the largest and most complex industries in the world. Within this industry, the implementation of efficient and economical supply chains represents an enormous challenge and opportunity for innovation. The most successful supply chain management technology vendors have created solutions tailored towards real-time transportation visibility, but the lack of end-to-end supply chain digitization and centralization remains a salient pain point. Businesses continue to rely on disparate systems and inefficient workflows to exchange critical supply chain information. Whether that means tracking inventory through Excel spreadsheets or communicating with suppliers over email threads, the lack of integration and fluidity between cross-functional data represents an opportunity for innovation.
Andrew and Nadav encountered these challenges first-hand when they worked together on Project N95, the National Clearinghouse for PPE and COVID-19 tests, and struggled to answer the question “Where’s my stuff?” As previous operators, they decided to tackle this problem themselves by creating Leverage, an AI-driven vendor relationship management platform that streamlines communication, collaboration, reporting, insights, and more into a singular cloud platform and fully integrates with existing ERP systems.
The Leverage platform empowers businesses to streamline both their complex internal supply chain mechanisms and external engagements with suppliers. In essence, it’s a multifunctional and centralized supply chain command center. Their website goes into more detail on all of the platform’s features, some of which include SKU and PO lifecycle management, quote request creation, real-time inventory management, and proactive contract lifecycle management. Combining these features with artificial intelligence models and integration capabilities allows Leverage to do things like mitigate late orders, reduce out of stock occurrences, and automate business reviews with suppliers.
Both Andrew and Nadav impressed us from the start and fit the archetype we look for in our founders – thoughtful, sharp, and driven builders with a knack for getting things done. They share our conviction that the supply chain and logistics industry is ripe for disruption as companies begin to adopt technology and rethink the strategic architecture of their supply chains. Las Olas VC led the $5M seed financing into NY-based Leverage alongside Mark Cuban, Gaingels, Great Oaks, Tensility VC, Social Impact Capital, Hyphen Capital, Remarkable Ventures, Jett McCandless, and Sanish Mondkar. We’re delighted to welcome Leverage to our portfolio and work closely with the team on their journey to simplify and automate the supply chain