Datapred, a Lausanne, Switzerland-based provider of direct material procurement software, raised a Series A institutional funding round of undisclosed amount.
Berlin-based Join Capital made the investment. Sebastian von Ribbentrop, Partner at Join Capital, will join the Datapred board as part of this funding deal.
The company intends to use the funds to increase the decision augmentation capabilities of its software and expand its base of manufacturing clients.
Founded in 2015 by Thomas Oriol, Director, Datapred provides a machine learning direct material procurement software platform that allows Chief Procurement Officers to streamline procurement processes, from sourcing to payment, based on the real-time combination of market trend predictions and operational cost/constraint optimization. Datapred is already serving clients to optimize over €1 billion in energy and raw material spend across multiple categories, including metals, chemicals and power.