July 4, 2020

Algo – $15 Million

Troy, MI ; 2/24/20

Amount Funded: $15 Million

Type: Series B

Investor: Integrity Growth Partners

Participating Investor(s); K Fund, Other unnamed investors

Company Description: Algo is a Troy, Michigan based supply chain SaaS platform that enables automated, data-driven workflows and business insights to enterprises. Its sophisticated bot, powered by AI, AR, and NLP, provides value creation to various verticals, including retailers, distributors, and manufacturers. The company’s deep domain knowledge of both technology and supply chain allows the team to rapidly train Algo on analytically rich workflows and business functions. With an easy-to-use conversational interface, Algo is bringing “plain” language understanding, machine learning and robust optimization to life within organizations, while creating an agile way to increase revenue and profitability. 

What funding will be used for:

Accelerate sales and marketing, further develop its AI, ML, and NLP product capabilities, and expand staff.

Quotes:

“Partnering with IGP has the entire Algo team excited for the future. The capital infusion will further our efforts to provide best-in-class products that drive cost-saving insights and revenue growth for our customers.”

-Amjad Hussain, CEO, Chairman and founder, Algo

“We are very impressed with Algo’s rapid growth and success within the supply chain industry. Its innovative and robust suite of tools and highly skilled engineering team are driving significant, measurable ROI for its clients by solving major pain points throughout their supply chains. We could not be more excited to partner with Amjad and his team on this next phase of growth.”

-Scottie Wardell, Managing Partner, Integrity Growth Partners

Notes:

  1. Scottie Wardell, managing partner at Integrity Growth Partners, joins Algo’s board of directors. 

Data provided by respective company (unless otherwise noted) and researched by StartupsOne for accuracy.

 

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