Cin7, Denver, CO-based inventory and order management software provider, acquired Inventoro, a Prague, Czech Republic-based provider of AI-driven sales forecasting and replenishment optimization solutions.
The amount of the deal was not disclosed.
The acquisition and integration of Inventoro’s capabilities with Cin7’s platform will extend product seller’s access to AI technology, enabling customers to enhance existing inventory and order management capabilities with intelligent prediction and optimization.
Led by CEO Tomas Formanek, Inventoro enables small and medium-sized businesses to manage their inventory to achieve optimal stock levels via algorithmic sales forecasting. Its system is empowered by advanced mathematics and artificial intelligence, which means it can learn and adapt to unique business needs, to achieve max forecast accuracy.
Led by CEO Ajoy Krishnamoorthy, Cin7 provides connected inventory performance – cloud-based inventory management software that gives growing product businesses an automated and real-time view of the entire inventory lifecycle. Its products, Core and Omni, natively integrate with over 700+ applications, so business owners can consolidate, streamline, automate, and scale their inventory operation from one place. Founded in 2012, Cin7 has grown globally, supporting product sellers in 100+ countries, serving 8,000+ customers and processing over 125 million orders annually.
FinSMEs
02/05/2024