AUSTIN, Texas (Dec. 03, 2019)—LeanDNA, a purpose-built, prescriptive analytics platform for factory management, announced today it has secured $15 million in Series B funding led by S3 Ventures. Existing investors Next Coast Ventures and Rony Kahan also participated in the round. The funds will be used to scale LeanDNA’s global offering, expand its customer base and support other strategic growth initiatives.
LeanDNA is changing the way global manufacturers manage inventory. LeanDNA’s factory-first platform enables manufacturers to optimize inventory, avoid shortages and improve on-time delivery. On average, LeanDNA customers see a 13.5 percent inventory reduction within the first 3 months after implementation, with some customers experiencing reductions of 30 percent or more.
“We are dedicated to empowering factory procurement teams to take control of their inventory,” said Richard Lebovitz, CEO of LeanDNA. “Having spent the past 30 years working directly with global factories, one thing is abundantly clear: Factories have been left behind. In collaboration with our pioneering, global manufacturing customers, we have proven that a data-driven approach to factory management is critical to unlocking working capital across the supply chain.”
“Nobody understands the factory management gap like LeanDNA,” said Charlie Plauche, partner with S3 Ventures and newly appointed LeanDNA board member. “With the company’s track record of rapid expansion and several multibillion-dollar manufacturing companies among its existing customers, we’re confident LeanDNA’s unique platform can capture a significant share of the massive manufacturing market. S3 is very excited to partner with Richard and his impressive team to accelerate growth in 2020 and beyond.”
“LeanDNA’s major successes over the last few years are emblematic of the company’s scalability, commitment to their customers and promise to impact the manufacturing industry,” said Mike Smerklo, co-founder and managing director for Next Coast Ventures. “We remain confident in LeanDNA’s potential and are excited to continue to collaborate on their rapid growth.”
Customers utilizing LeanDNA’s factory analytics software include global manufacturers such as Spirit AeroSystems, Safran, PSG Dover and Integra LifeSciences, who are increasingly turning to transformational, prescriptive technology to efficiently manage inventory and improve profitability.
LeanDNA is hiring across multiple departments to support its expanding go-to-market efforts and global operations in key verticals. To learn more about LeanDNA, its customers and its open positions, visit www.leandna.com.
About LeanDNA
LeanDNA’s factory-first approach enables manufacturers to optimize inventory, avoid shortages and improve on-time delivery. Leveraging predictive analytics and prescriptive AI to power actionable, automated recommendations, the LeanDNA platform promotes real-time collaboration and standardization across systems, suppliers and sites, unlocking working capital for the business. For more information about the Austin, Texas-based company, visit www.leandna.com.
About S3
Based in Austin, S3 Ventures is the largest venture capital firm focused on Texas. Backed by a philanthropic, multi-billion-dollar family for over a decade, we empower great entrepreneurs with the patient capital and true resources required to grow extraordinary, high-impact companies in Business Technology, Consumer Digital Experiences, and Healthcare Technology. With more than half-a-billion dollars under management, we lead Seed, Series A, and Series B investments with the capacity to follow-on for the life of a company.
MEDIA CONTACTS
For LeanDNA, Emma Chase
emma@redfancommunications.com
O: (512) 551-9253 / C: (512) 917-4319
