SAN FRANCISCO -– ClearMetal, a company specializing in predictive logistics, has secured $9 million in a Series A funding round to further expand its platform to empower the future of AI-driven supply chains for manufacturers and retailers.
The investment was co-led by Prelude Ventures and Eric Schmidt’s Innovation Endeavors, with additional investment from NEA, SAP.iO, PSA unboXed, DCLI and the founder of GT Nexus.
ClearMetal delivers predictive logistics for retailers and manufacturers by using AI to canonicalize supply chain data and deliver end-to-end predictive visibility that drives inventory management, profitability, and differentiated customer service.
“The global supply chain is suffering from billions of dollars of inefficiency as a result of not having the data intelligence and predictive visibility it needs,” said Adam Compain, CEO of ClearMetal. “Our customers are eager for predictive logistics and ClearMetal’s platform solves their fundamental data challenge while delivering the digital transformation required to drive profitability in the supply chain.”
“The industry has been ripe for digital applications that can help companies improve how they manage the flow of materials across the supply chain,” said John Santagate, Research Manager, Supply Chain Execution at IDC. “The impact of such visibility not only improves the ability to plan logistics, it also provides the ability to drive downstream supply chain improvements such as reducing inventory levels, driving down safety stock requirements, and improving asset utilization in the warehouse.”
ClearMetal’s Data Intelligence Platform was developed by top AI engineers from Stanford University, Silicon Valley, and executives from Google, GT Nexus, VF Corporation, Navis, and the broader logistics industry.
The deal comes 18 months after receiving an initial $3 million investment.
“ClearMetal has rapidly established itself as the category leader for predictive logistics by tackling the industry’s core data challenges and operational complexity,” said Gabriel Kra, Managing Director at Prelude Ventures. “Their granular approach to data mining, modeling and simulating presents vast new opportunities for supply chain players to operate smarter, more efficiently and with greater sustainability based on data intelligence.”