Verusen

Verusen

AI-driven materials management solutions for manufacturing

About Verusen

Simplify's Rating
Why Verusen is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Industrial & Manufacturing

Enterprise Software

AI & Machine Learning

Company Size

51-200

Company Stage

Series B

Total Funding

$38.1M

Headquarters

Atlanta, Georgia

Founded

2015

Overview

Verusen specializes in materials management solutions for the manufacturing sector, focusing on optimizing Maintenance, Repair, and Operations (MRO) inventory. Its platform uses artificial intelligence to ensure that companies have the right materials at the right time, reducing waste and improving efficiency. Unlike competitors, Verusen offers a software-as-a-service (SaaS) model that provides actionable insights for better decision-making. The company's goal is to help large manufacturing enterprises streamline operations and achieve significant cost savings.

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Simplify's Take

What believers are saying

  • Verusen's clients report an 8X return on investment within a year.
  • The company recently launched AI for Spare Parts Criticality to improve stocking strategies.
  • Verusen received the 2023 Top Supply Chain Projects award for work with a tire manufacturer.

What critics are saying

  • New CEO Scott Matthews may lead to strategic shifts misaligned with client expectations.
  • The White House's AI executive order may increase compliance costs for Verusen.
  • Integration challenges may limit Verusen's platform effectiveness with existing client systems.

What makes Verusen unique

  • Verusen uses AI to optimize MRO inventory for manufacturing sectors.
  • The platform harmonizes disparate material data across multiple ERP systems.
  • Verusen offers predictive capabilities to optimize allocation and procurement needs.

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Funding

Total Funding

$38.1M

Below

Industry Average

Funded Over

4 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Retirement Plan

401(k) Company Match

Flexible Work Hours

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-4%

2 year growth

-2%
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Oct 17th, 2024
New Verusen AI solution targets operational risk through spare-parts evaluation - SiliconANGLE

Artificial intelligence-powered supply chain management software firm Verusen today announced the launch of AI for Spare Parts Criticality, a new evaluation and optimization solution that understands item criticality and operational risk to drive improved stocking strategies for enterprises and manufacturers.

Investors Observer
May 21st, 2024
Verusen Expands into Exciting New Vertical Markets Globally; Appoints MRO Industry Veteran Jeremiah Woodford as CRO; Broadens Executive Sales Leadership With Additional New Hires

To meet this growing need, Verusen has appointed MRO industry veteran Jeremiah Woodford as Chief Revenue Officer (CRO), responsible for leading the entire sales process, including revenue and sales pipeline creation, market development, and sales operation.

Hypepotamus
Feb 19th, 2024
Monday "Fund" Day: What Happened For Startups The Week Of February 12, 2024

13. There was a lot to love about the Valentine’s Day week. We saw startups raise big VC rounds, add new C-Suite talent, and land new big corporate partnerships. To start off the week, we are rounding up the big headlines from last week across the Southeast. Here is what you need to know to catch up on all the big news:. WHO RAISED Document Crunch, a Florida and Georgia-based startup, closed its $9 million Series A

Forbes
Nov 29th, 2023
Executive Order Shines Spotlight On The Promise Of Ai In Supply Chains

Recently, the White House announced its landmark executive order on emerging AI technologies, with legislation promising to guide the safety and security of the U.S. government and its workers. The executive order was wide-ranging in scope, spotlighting government guidance for private industry, AI security, workers' support, AI innovation and competition, and American leadership in the field.The White House also announced the formation of the United States AI Safety Institute (US AISI) inside NIST. The US AISI will aim to establish guidelines, tools, and best practices to identify and mitigate AI risk.This comprehensive policy directive from the White House kickstarts how the government approaches AI in a rapidly shifting world. It also aligns with how we approach AI in business, within supply chain management, manufacturing, logistics, and inventory control. The executive order seeks to ensure the safety and security of AI software and networks on a wide-ranging level.But will these guidelines work for industrial distribution and manufacturing inventory? There may be opportunities to lessen risks of AI systems used in logistics, such as biases in routing algorithms or cybersecurity vulnerabilities in inventory tracking

Forbes
Oct 27th, 2023
Beware Of The ‘Frankenstein Stack’ Of Data Systems

The frightful fall season of Halloween is upon us. This means spooky things are on the rise. It’s right to be wary of things that bump at night or in the day when looking at the tangle of legacy data systems running within your organization. Is your company running its operations with a pieced-together, Frankenstein-patched-up amalgamation of data systems? Are you continually adopting new data technologies individually without a strategic overall plan for architecture?Maybe it’s high time to consider if your organization has its own ‘scary’ aspects of using overlapping and underperforming technology processes.Integrating ApplicationsA recent connectivity study reveals that the number of business technology applications used within companies now exceeds 1,000. However, integration between these apps is in short supply. Less than 30% of these are integrated

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