LevaData Locates $47 Million Series C

<p><strong>SAN JOSE<&sol;strong> &&num;8212&semi; LevaData&comma; a supply management software company that delivers an integrated artificial intelligence &lpar;AI&rpar; platform to transform direct material sourcing and accelerate new product development&comma; announced it raised &dollar;47 million in Series C funding&period; This strategic investment&comma; led by Banneker Partners with participation from its pre-existing investor&comma; Tola Capital&comma; comes after the company experienced significant global revenue growth during the first half of 2021&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This partnership with Banneker will help catalyze procurement and sourcing transformation at scale for our customers by creating agility and sustainable value with our AI-based platform&comma;” said Rajesh Kalidindi&comma; CEO and Founder of LevaData&period; &OpenCurlyDoubleQuote;Our mission is to make supply management and direct material sourcing a competitive advantage&period; This new funding will also help accelerate buildout and value delivery for our buyer&comma; supplier&comma; and partner community&period;”<&sol;p>&NewLine;<p>Global supply chains continue to experience significant and unprecedented challenges&period; Volatility is creating board-level dialogue for improved supply continuity and deeper market intelligence that only digital transformation can deliver&period; Companies must think differently and execute more decisively&period; LevaData offers supply management teams the predictive insights needed to act before cost and events negatively impact margins or speed to market&period; Many of the world’s largest brands rely on LevaData&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We’re thrilled with this partnership&comma;” said Stephen Davis&comma; Managing Partner at Banneker Partners&period; &OpenCurlyDoubleQuote;We clearly see how global manufacturers are battling supply shortages while trying to determine how to manage an entirely remote business environment&period; We firmly believe that LevaData is uniquely positioned to help companies maintain resiliency&comma; agility&comma; and success while navigating these complexities&period;”<&sol;p>&NewLine;<p>This new investment and partnership will help LevaData accelerate its growth strategies at a time when its customers and primary markets are most vulnerable and need them most&period; Areas of investment priorities include the continuous improvement of their integrated platform capabilities&comma; a deeper physical presence in key global markets&comma; and the creation of hundreds of new jobs&period; It will also enable the expansion of an already thriving partnership community&comma; which currently includes Bain &amp&semi; Company&comma; Kinaxis&comma; IBM&comma; PTC&comma; and RapidRatings&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The quality&comma; cost&comma; and reliability of your direct materials impact your product brand&comma; gross margin&comma; and ability to meet the demand for your products&period; We look forward to the next stage of growth for LevaData&comma; as they continue enabling sourcing and procurement leaders to contribute direct business value with the decisions they can make with AI-driven guidance at their fingertips&comma;” said Tola Capital Partner&comma; Aaron Fleishman&period;<&sol;p>&NewLine;