Algo, a leading innovator in end-to-end supply chain optimization software based in Troy, MI, announced today that it received a multi-million dollar investment from Plymouth Growth, a growth equity firm based in Ann Arbor, MI. This new capital and strategic partnership will allow Algo to deepen its market penetration and increase sales and marketing capabilities.
Algo is a high-growth, SaaS solution provider used by enterprise businesses, including many Fortune 500 companies. Algo’s platform utilizes machine learning, optimization and other Artificial Intelligence (AI) methods, to analyze, drive, predict, and prescribe critical business insights and perform functions, including demand and inventory planning, sales forecasting, product lifecycle management, and category optimization. Algo’s customers interact with Algo’s virtual supply chain analyst through natural language to increase sell-in and sell-through, optimize inventory, minimize returns, and drive various other forms of measurable ROI across the extended enterprise.
“We are excited to double down on the success we’ve seen over the past few years and accelerate that further with Plymouth Growth by our side,” said Amjad Hussain, CEO and Founder of Algo. “Plymouth’s deep industry knowledge and breadth of experience is the key reason we chose them to join our journey. We believe the time is now to transform the supply chain industry. We at Algo have innovative technology that is changing the way the industry manages demand and inventory planning.”
“Global enterprises with complex supply chains are benefiting from the value of Algo. Once customers experience the power of Algo’s AI-based and data-driven approach to predictive and prescriptive supply chain optimizations, there is no going back,” said Kevin Terrasi, Partner at Plymouth Growth. “It is clear that Algo’s groundbreaking technology is going to disrupt the supply chain industry permanently.”
David Warrick, General Manager of Global Supply Chain at Microsoft and Algo customer shared this view when he noted, “The landscape of supply chain is changing rapidly. It is our partnership with companies like Algo that will continue to define the future.”
“Algo is humbled by David’s comments and the evolving partnership with Microsoft,” said Hussain. “Algo’s cooperative approach in redefining the supply chain industry, alongside key industry leaders like Microsoft, will continue to drive broad industry impact.”
With Plymouth’s investment, Kevin Terrasi will join Algo’s Board of Directors. “We couldn’t be more excited to be a part of Algo’s journey,” said Terrasi.
Algo is a Troy, MI-based supply chain SaaS platform that enables automated, data-driven workflows and business insights to enterprises. Its sophisticated virtual supply chain analyst, 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’s solution 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.
About Plymouth Growth
Plymouth Growth invests in mid-continent B2B software and technology companies – with proven business models, rapid growth, and strong teams – that are ready to scale. The Plymouth team brings decades of experience as operators, advisors, and investors, and understands that while metrics matter, it’s people that are critical to growth. We look beyond the numbers to understand businesses, teams, and cultures, and we seek to partner with entrepreneurs that have accomplished a lot with a little. Based in Ann Arbor, MI and actively investing out of its fifth fund, Plymouth Growth helps teams achieve smart, proven growth.
Luxury Skincare brand U Beauty announces strategic investment from Sandbridge Capital
Leading science-driven luxury skincare brand U Beauty announces a strategic investment from Sandbridge Capital, a consumer focused private investment firm that partners with leading high growth global brands. Since its founding, U Beauty’s proprietary offering of high performance, science-backed skincare solutions has seen exponential growth. Sandbridge represents U Beauty’s first institutional capital; the funds will be used to accelerate the brand’s already impressive multi-channel, cross-category global growth.
Singularly blending science and sustainability, U Beauty embodies the future of luxury skincare. Featuring a tightly edited suite of award-winning products made in Italy, U Beauty’s groundbreaking formulas are as multitasking as they are effective. Driven by the brand’s double-patent-pending SIREN Capsule Technology, they feature a revolutionary system that delivers low-level actives with breakthrough efficacy. Inspired by precision medicine, U Beauty approaches skincare differently from others in the industry. Other brands distribute active ingredients all over the skin unnecessarily, while U Beauty’s proprietary technology targets areas with high levels of damage, causing free radicals to neutralize only those areas while simultaneously preserving healthy skin. The result is visible improvement for both short and long-term skin health.
Tina Craig, U Beauty’s Founder and Chief Creative Officer, expressed her excitement about the partnership: “For a founder, finding the right growth partner is a grueling process. There’s typically some aspect of the conversation that makes you feel particularly protective of your brand. But, from our very first conversation with Ken and his team, there was a natural affinity –personal, professional, and strategic – between U Beauty and Sandbridge that made our partnership feel like an inevitability. Of course, their stellar track record and roster of blue-chip advisors appealed to us. Both companies also share a fundamental perspective that there are no shortcuts to skillful long-term brand-building – and Sandbridge possesses the expertise, wherewithal, and vision to help propel U Beauty to a bigger, brighter future.”
Katie Borghese, U Beauty’s Founder and Chief Marketing Officer, delivered an equally enthusiastic sentiment: “Not only does Sandbridge have reverence for brand equity and value the individuals driving the company, we are intrinsically aligned on U Beauty’s vision, mission, and strategy. With unyielding discipline, we maintain a focus on exceptional products, launching only when the formula is just right, and the product offers real value innovation. We want to break through existing conventions within the skincare industry and create substantial change, and with this new partnership, our goals will undoubtedly be realized.”
Ken Suslow, Sandbridge Founder and Managing Partner, added: “U Beauty is compellingly positioned at the intersection of where luxury beauty meets science-driven efficacy in support of its elevated skincare solutions. We are super enthused to partner with Tina, Katie, and their highly impressive team as the company redefines performance skincare with their continued breakthrough product innovation. U Beauty is one of those rare mission driven brands that we have had the good fortune to partner with over the years, with its authentically modern clean beauty approach and importantly differentiated brand positioning. We are excited to contribute our experience in helping to build enduringly successful global brands in support of U Beauty’s demonstrably strong foundation.”
U Beauty takes a modern approach to distribution, seamlessly merging direct-to-consumer, brick-and-mortar, and digital commerce, and is currently available through over 100 doors in 16 countries, including prominent retailers such as Violet Grey, Net-a-Porter, Nordstrom, Bergdorf Goodman, and Saks Fifth Avenue.
Validated by rigorous clinical testing and recognized by the industry as a trailblazing leader in innovation (and with 23 awards from leading beauty authorities in the last 24 months), U Beauty is heralding a streamlined shift in skincare by eliminating the need for a myriad of ancillary products to maximize results while minimizing irritation, time, and waste.
The brand is also certified with the Butterfly Mark by Positive Luxury, an industry-leading certification for luxury brands making a positive impact on the world, as U Beauty embraces transparency and environmental advertency. In addition to using recycled packaging and non-toxic ingredients, its manufacturing facilities use 100% green energy. U Beauty also has an ongoing partnership with One Tree Planted, a nonprofit dedicated to reforestation, to plant a tree for every U Beauty product sold.
Sandbridge Capital is a private investment firm with offices in Los Angeles and New York that invests exclusively in high growth global consumer brands, including Youth to the People, ILIA, Peach & Lily, Thom Browne, Hydrow, Rossignol and Farfetch. Since its founding with the backing of an iconic group of consumer industry operators and advisors, Sandbridge has been strategically partnering with brands in the beauty, luxury, health and wellness, and disruptive consumer-based technology segments.
Nikola to Participate in Upcoming Investor Conferences
Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced its participation in the following investor conferences:
Kim Brady, CFO, will participate in a fireside chat at the Evercore ISI Global Clean Energy & Transition Technologies Summit on June 15, 2022, at 2 p.m. ET
- A webcast replay of the presentation will be accessible on the Investor section of the Nikola website https://nikolamotor.com/investors/news?active=events.
- Kim Brady, CFO, will participate in a fireside chat at the Deutsche Bank Global Auto Industry Conference on June 16, 2022, at 10:25 a.m. ET
- A live audio webcast and replay of the presentation will be accessible on the Investors section of the Nikola website https://nikolamotor.com/investors/news?active=events.
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit http://www.nikolamotor.com or Twitter @nikolamotor.
SOURCE Nikola Corporation
ComplySci Announces $120 Million Growth Investment From K1 Investment Management
ComplySci, the leading provider of regulatory technology and compliance solutions for the financial services sector, announced today that it has received a growth capital investment of approximately $120 million from K1 Investment Management, a leading private equity investment firm focused on high-growth enterprise software companies.
ComplySci is a widely recognized leader in offering innovative compliance software that creates a robust employee compliance function. The company’s solutions deliver scalable identification and mitigation of employee regulatory and compliance risks, at a high degree of precision and on a cost-efficient basis.
ComplySci partners closely with C-suite teams as well as in-house compliance, legal and technology professionals to deliver technology-enabled employee compliance solutions for broker-dealers, registered investment advisers (RIAs), hedge funds, private equity firms, investment advisors, venture capital firms and other businesses across the financial services sector.
Amy Kadomatsu, Chief Executive Officer of ComplySci, said, “We are thrilled that K1 shares our passion about the opportunities ahead for our business and our excitement around the future of innovation in the RegTech industry. With K1 as our partner, ComplySci looks forward to continuing to build out our products and services, and to driving additional growth through acquisitions. This investment underscores the enormous momentum that ComplySci has generated as the leading provider of innovative technology-driven employee compliance solutions across the financial services sector.”
$120 Million Investment Supports Ongoing Robust Growth
ComplySci will leverage K1’s investment to further build out its platform including existing modules, such as Political Contributions Verification, Senior Managers and Certification Regime, and Compliance Program Management and the recently-launched Compliance Control Room and Conflict Checking products, which track firm activities along with employee activities to proactively identify potential conflicts of interest and market abuse through a single integrated solution.
“As reflected in our record financial results for the first quarter of this year, which represented a new high-water mark for our already rapidly growing firm, we are leaders in a fintech segment where proven solutions from experienced providers are always in demand, regardless of market, economic or industry cycles,” stated Ms. Kadomatsu. “For our customers, business partners and employees, our new partnership with K1 underscores this key take-away: The best is yet to come as we harness the significant new investment in our company with the talent, energy and innovative spirit that our entire team brings to each customer relationship. We are setting the standard for the future of tech-empowered employee compliance.”
Existing investors in ComplySci will retain their stakes in ComplySci following K1’s investment.
K1 Expands Reach in Fintech Software
K1 has established itself as a leading investor in the enterprise software and software-as-a-service (SaaS) sectors, combining proprietary transaction sourcing capabilities with the experience and expertise of its operations team, K1 Operations, LLC. The firm has a robust track record in partnering with enterprise software providers including Smarsh, Digital Reasoning, Entreda, FMG Suite, and others to drive substantial growth in the wealth management space, an area where K1 believes particularly strong expansion opportunities exist for ComplySci.
Roy Liao, Senior Vice President at K1 Investment Management, said, “In this environment of ever-expanding regulatory complexities, financial services firms recognize how crucial it is to have technology-enabled, sophisticated and reliable employee compliance solutions. ComplySci has successfully positioned itself as a leading and trusted partner to these firms, providing them with indispensable capabilities that give them the visibility and confidence they need to operate their businesses, on a scalable yet effective basis. We’re delighted to partner with Amy and the ComplySci team to further expand the company’s ongoing growth and success.”
Growing Adoption of Fitness App among Consumers Has Unbolted a Number of New Avenues for the Industry Players
The Internet of Things Technology: Benefits for Diverse Industries, Tips, and Challenges It Solves
How to Develop a Killer Content Marketing Strategy for a Startup (with 5 Examples)
Pocket Network Continues to Exceed Web3 Industry Demand with Record Number of Protocol Relays
In this interview, Raquel Ureña talks about the second season of ‘NY Never Sleeps’
Take These 4 Steps to Reach your Target Customers
Interview3 years ago
An Interview with Joel Arun Sursas, Head of Clinical Affairs at Biorithm, Singapore
More2 years ago
6 Promising Up and Coming Fashion Companies
More4 years ago
Factors to Consider When Planning Your Office Design and Layout
Interview2 years ago
An Interview with Russell Jack, Southland-based Yogapreneur and Mindfulness Teacher
Other Internet Tech4 years ago
How to become an IPTV reseller? A beginner’s guide
More4 years ago
IPTV business for beginners
Business Ideas4 years ago
50 Small Business ideas with low investment
More4 years ago
Advantages of Using Ride-hailing Services for Transportation