LevaData, a Sunnyvale, CA-based provider of a cognitive sourcing platform, raised $12M in Series B funding round.
Backers included existing investor Tola Capital.
The company intends to use the proceeds to continue to invest in deepening the capability of the Cognitive Sourcing™ platform for high tech and manufacturing customers and expansion into key vertical markets, including industrial equipment and medical devices, as well as to drive innovation in engineering and data science, as well as to continue to grow its presence and engineering team in Silicon Valley, including the appointment of Sreeni Iyer as Chief Technology Officer (CTO).
Led by Rajesh Kalidindi, CEO and Founder, LevaData provides global supply chain organizations, as well as medium-sized OEMs seeking to achieve best-in-class direct materials sourcing practices with the LevaData Cognitive Sourcing™ Platform to improve gross margins by reducing supply chain costs.
The company serves customers in a wide swath of industries — including high tech/electronics, the automotive and industrial equipment sectors, consumer products, and the medical device sector — and across procurement, supply chain, engineering, and finance organizations.