Supply chain risk management and operational resilience technology company Interos has said the Broadway Angels, a group of women tech investors, has put $6.5 million into the company.
In a Dec. 16 company press release, Interos founder and CEO Jennifer Bisceglie said the company would use the funding to boost its product offering, make more data sets and invest in more artificial intelligence (AI).
Interos’ AI-powered solution analyzes data points, helping manage supply chain risks and disruptions that could lose companies revenue.
Sonja Perkins, co-founder of Broadway Angels, said the company wanted to invest in Interos because of the ongoing supply chain issues globally.
“The past year has highlighted the vulnerability of the global supply chain and Interos provides the solution that gives organizations real time visibility that is essential to business continuity in today’s world,” Perkins said in the release.
Marcie Vu, who led the Broadway Angels investment in the company, also called Bisceglie “a visionary and pioneer in applying artificial intelligence to supply chain risk management.”
“Interos is helping customers solve a critical problem with global reach at massive scale,” Vu said in the release.
Bisceglie said the partnership “presents a unique opportunity to demonstrate how a woman-led investment group and a woman-led business can support one another, especially in an area that has long lacked female representation.”
Supply chain issues have been ongoing for some time, with small retailers being the ones to bear the brunt of the issues.
Bisceglie, quoted in a recent PYMNTS piece, called it “the haves and the have nots,” saying that big retailers like Walmart, Home Depot and Target have the ability to reach deep and pay for better airfreighting and other things.
By contrast, Bisceglie said smaller companies were having issues and were “beholden to their local markets.”
The supply chain problems even extended to companies like Kohl’s, which cited “extended transit times” that left its inventory levels 25% lower than 2019 levels, and Macy’s, which had inventory levels around 15% lower.
Read more: Big-Box Stores Better Equipped to Handle Supply Chain Bottleneck
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