We’re excited to announce our investment in Pull Logic’s Seed Round, joining Silicon Road Ventures (an Atlanta-based retail technology-focused VC firm) and PAX Momentum on the company’s cap table.
Pull Logic uses predictive analytics to significantly reduce inventory costs for businesses selling large-ticket items. The company leverages the research of Professor Benoit Montreuil (the Coca-Cola Endowed Professor of Supply Chain at Georgia Institute of Technology) to introduce several unique tools for inventory management and the prediction of future customer demand.
We've been impressed by Pull Logic's initial traction so far, which includes securing a Fortune 500 customer, a distribution partnership with NCR Corporation, and successfully reducing inventory costs by over 40% for a Georgia-based recreational vehicle manufacturer.
We have had longstanding pre-existing relationships with the Pull Logic founding team and look forward to partnering with Karl Swensen (Co-Founder and CEO) and Taresh Grover (Co-Founder/COO) for the company’s next chapter of growth!
Press Release:
ATLANTA, GEORGIA, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- Pull Logic, a leading innovator in inventory management solutions, is thrilled to announce the successful closure of its seed funding round. The capital infusion will be pivotal in advancing the company's mission of empowering businesses to mitigate lost sales and optimize inventory efficiency.
Pull Logic was founded based on the research of Dr. Benoit Montreuil who leads the Supply Chain & Logistics Institute at the Georgia Institute of Technology and uses AI to understand demand and manage inventory based on how people actually shop and the trade-offs and decisions they make.
This funding round was made possible through the unwavering support of our esteemed investors, dedicated team members, and an engaged community. Pull Logic extends heartfelt gratitude to Silicon Road Ventures, Fintech Ventures Fund, and Pax Momentum for their support of the company's vision and commitment to driving innovation in the industry.
Sid Mookerji, Managing Partner & Founder of Silicon Road Ventures, says "Pull Logic is building the holy grail for retailers, brands, and manufacturers at a time when the industry is being transformed and disrupted like never before. Getting the right merchandise in the right place at the right time can result in increased sales and reduced inventory costs: metrics that could make or break companies worldwide. Pull Logic is solving this using proven, proprietary IP built at Georgia Tech. We are excited to be a part of this journey."
Lucas Timberlake, General Partner & Co-Founder of Fintech Ventures Fund says “Pull Logic is optimizing the way products are sold, through an AI-based approach that introduces proprietary KPIs and dynamic inventory forecasting tools. We’re looking forward to leveraging our longstanding pre-existing relationship with members of the Pull Logic founding team to support the company in its next chapter of growth.”
Pull Logic is poised to accelerate its growth trajectory and expand its reach to a broader customer base. The company is eager to leverage this momentum to introduce its cutting-edge solutions to more businesses seeking to streamline their operations and enhance profitability.
"We are incredibly excited about the possibilities that lie ahead," said Karl Swensen, Co-Founder and CEO, at Pull Logic. "This funding marks a significant milestone in our journey, and we are grateful for the confidence placed in us by our investors. With their support, we are well-equipped to propel Pull Logic to new heights and deliver unparalleled value to our customers."
Pull Logic invites stakeholders and industry experts to stay tuned for forthcoming developments as the company embarks on this transformative phase of growth.
Get to Know Pull Logic:
Logistics of Logistics Podcast - “Solving the $1.8 Trillion Inventory Distortion Problem with Karl Swensen”
Media Coverage:
Hypepotamus - “Local investors back Atlanta-based startup looking to help companies reduce unproductive inventory”
Supply Chain Dive - “Pull Logic Secures Seed Round Funding to Revolutionize Inventory Management”