TROY – Algo announced it has received a multi-million dollar investment from Plymouth Growth, an Ann Arbor private equity finance company. This new capital and strategic partnership will allow Algo to deepen its market penetration and increase sales and marketing capabilities. Details were not announced.
Algo is a SaaS solution provider used by enterprise businesses, including many Fortune 500 companies. Algo’s platform uses machine learning, optimization and other Artificial Intelligence 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.
“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.”
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.
“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.”
With Plymouth’s investment, Kevin Terrasi will join Algo’s Board of Directors.
For more information, visit www.algo.com.
