- Algo, a leading innovator in supply chain technology-based in Troy, Michigan, announced that it received a $15 million investment from Integrity Growth Partners (IGP).
Algo, a leading innovator in supply chain technology-based in Troy, Michigan, announced that it received a $15 million investment from Integrity Growth Partners (IGP). The K Fund also participated in this round.
What does Algo do? Algo is a high-growth and end-to-end SaaS software platform used by Fortune 500 enterprises to analyze, drive, predict, and prescribe critical business data and functions, including demand and inventory planning, sales forecasting, product lifecycle management, and category optimization. And Algo’s customers communicate with its virtual supply chain bot through natural language to increase sell-through, optimize inventory, minimize returns, and drive various other forms of measurable ROI across the enterprise.
“We are very impressed with Algo’s rapid growth and success within the supply chain industry,” said Elizabeth (Scottie) Wardell, Managing Partner at Integrity Growth Partners. “Its innovative and robust suite of tools and highly skilled engineering team are driving significant, measurable ROI for its clients by solving major pain points throughout their supply chains. We could not be more excited to partner with Amjad and his team on this next phase of growth.”
In connection with the transaction, Wardell is joining Algo’s board of directors.
“Partnering with IGP has the entire Algo team excited for the future,” added Amjad Hussain, CEO, Chairman, and founder of Algo. “The capital infusion will further our efforts to provide best-in-class products that drive cost-saving insights and revenue growth for our customers.”
Hussain also pointed out that when the time was right to raise the funding round, he knew that Integrity was the right partner.
“Algo’s software provides extraordinary value to leading companies. We are very pleased to work with Amjad and our colleagues at Integrity Growth Partners in the next chapter of Algo’s growth,” added Gary Post, Partner at The K Fund.
