AI-powered risk management company for suppliers Inspectorio, has raised $50 Million in a Series B Round led by New York-based global private equity and venture capital firm, Insight Partners. Inspectorio’s other investors include Techstars, Flexport, Ecolab and Matchstick Ventures.
Inspectorio is an Ecuadorian startup that provides a suite of management software including quality management, compliance management, and production tracking software that leverages machine learning to,“transition from reactive interventions to a proactive, preventative approach to supply chain management.” The company’s Series B marks the latest major round of funding after a Series A in 2018.
Inspectorio will use the new funding to expand research and development and to grow its development, product and go-to-market teams.
“By raising and expanding our investments in current and future products, we will expand product capabilities to go further upstream in the production chain. This will result in an increased focus on production tracking and supply chain traceability, which is a critical need for the modern supply chain industry,” says Carlos Moncayo, CEO & Co-Founder of Inspectorio.
Created by Carlos Moncayo, David Klein, Fernando Moncayo and Luis Moncayo, Inspectorio is Headquartered in Minneapolis and has over 200 employees across the United States, Ecuador, China, Vietnam and Belarus.
