Vori Raises $10M for Grocery Store Inventory Management

Digital B2B grocery supply chain-focused inventory management platform Vori has wrapped up a Series A funding round totaling $10 million that the company will use to improve talent acquisition, expand its United States operations and broaden its product offerings.

Vori will soon launch Vori Back Office to allow more independent grocery retailers nationwide to use its supply chain technology, according to a Wednesday (Aug. 3) press release. The company digitizes traditionally manual processes, undocumented knowledge and analog data, which allows grocers to reorder stock by scanning shelf tags. They can also order quantities and price items based on supplier cost changes and customer purchasing patterns.

“This investment will allow us to expand our team and product to better meet the growing needs of the grocery industry, and to help our customers manage their supply chains, optimize labor, and keep up with evolving market trends and consumer needs,” said Vori CEO and Co-Founder Brandon Hill in the release.

Vori’s “solution increases productivity by decreasing the time it takes to replenish inventory by up to 80% while tackling the U.S. food waste problem that creates an annual loss of around $408 billion,” the release stated.

The Factory led the Series A round, and there was participation from Greylock, E2JDJ, MKT1 and Vori flagship customer Mollie Stone’s Markets, according to the release.

Last year, Vori partnered with unified commerce platform TrueCommerce.

Read more: TrueCommerce, Vori Collaborate on Grocery Supply Chain Connectivity

“We had two needs in a partner,” said Vori Co-Founder and Chief Technology Officer Robert Pinkerton said at the time. “First, we needed a way to provide [electronic data interchange (EDI)] communication. Second, we needed production-quality ERP API integrations between our retailers and suppliers.”

Via the partnership, Vori was able to offer its customers collaboration and automation through integrated EDI to connect their business systems.

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