Enterprise IT Startup LevaData Brings In $5 Million

LevaData announced it has secured $5 million in Series A financing from Tola Capital.

LevaData’s goal is to help global enterprises improve gross margins by reducing supply chain costs. The company’s cloud platform combines market intelligence and enterprise data with applied AI cognitive analytics continuously to identify savings opportunities and risks. Through a shared outcome-based approach, LevaData helps its customers achieve a positive ROI, typically between 10 to 30 percent incremental savings on direct materials spend.

According to the company, the new funding will enable LevaData to invest further in its product.