About Verusen
Verusen is a company based in Atlanta (United States) founded in 2019 by Paul J Noble.. Verusen has raised $33 million across 2 funding rounds from investors including Flyover Capital, Scale Venture Partners and Glasswing Ventures. Verusen offers products and services including MRO Inventory Optimization, Spare Parts Criticality Optimization, Material Search & Discovery, Duplicate Material Identification, and Category & Supplier Spend Analysis. Verusen operates in a competitive market with competitors including MARKT PILOT, synthavo, SPARETECH, Intellinet System and Engora, among others.
- Headquarter Atlanta, United States
- Founders Paul J Noble
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Sectors
Industrial Goods & Manufacturing
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Email
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Phone
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Website
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Social
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- Legal Name Autit, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$33 M (USD)
in 2 rounds
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Latest Funding Round
$25 M (USD), Series B
Jan 25, 2022
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Investors
Flyover Capital
& 7 more
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Employee Count
Employee Count
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Products & Services of Verusen
Verusen offers a comprehensive portfolio of products and services, including MRO Inventory Optimization, Spare Parts Criticality Optimization, Material Search & Discovery, Duplicate Material Identification, and Category & Supplier Spend Analysis. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI platform for reducing MRO inventory costs and risks
Tool to assess and optimize spare parts for operations
System for locating parts across facilities quickly
Feature to detect and share duplicate materials
Analytics for reducing tail spend and supplier bundling
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Leadership Team
7 people
Software Development Team
4 people
Sales and Marketing
4 people
Customer Team
3 people
Board Team
3 people
Data Analysis and Operations Team
3 people
Human Resources and Administration
2 people
Product Management Team
2 people
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Funding Insights of Verusen
Verusen has successfully raised a total of $33M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $25 million completed in January 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $25.0M
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First Round
First Round
(28 Jan 2021)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2022 | Amount | Series B - Verusen | Valuation | Scale Venture Partners | |
| Jan, 2021 | Amount | Series A - Verusen | Valuation | Forte Ventures , Flyover Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Verusen
Verusen has secured backing from 8 investors, including venture fund investors. Prominent investors backing the company include Flyover Capital, Scale Venture Partners and Glasswing Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage venture capital investments are focused on US companies.
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Founded Year | Domain | Location | |
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Early-stage investments are made in AI and frontier technology startups by Glasswing Ventures.
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Founded Year | Domain | Location | |
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Stage agnostic venture capital firm backed by fund of funds
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Verusen
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Verusen
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Verusen Comparisons
Competitors of Verusen
Verusen operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MARKT PILOT, synthavo, SPARETECH, Intellinet System and Engora, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Automated spare parts pricing software is offered to machine manufacturers.
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| domain | founded_year | HQ Location |
Machine parts are identified via AI-powered mobile applications.
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| domain | founded_year | HQ Location |
Provider of spare parts management software solutions
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| domain | founded_year | HQ Location |
Offers SaaS software for OEM aftermarket parts, service, and warranty management.
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| domain | founded_year | HQ Location |
An AI-powered platform for industrial sourcing and manufacturing supply chain management.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Verusen
Frequently Asked Questions about Verusen
When was Verusen founded?
Verusen was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is Verusen located?
Verusen is headquartered in Atlanta, United States. It is registered at Atlanta, Georgia, United States.
Is Verusen a funded company?
Verusen is a funded company, having raised a total of $33M across 2 funding rounds to date. The company's 1st funding round was a Series A of $8M, raised on Jan 28, 2021.
What does Verusen do?
Verusen was founded in 2019 and is headquartered in Atlanta, United States. Operations focus on the supply chain technology sector, where an AI-driven platform is utilized for material management. Inventory levels across enterprises are predicted through AI algorithms, offering improvements over conventional methods. Services are directed toward businesses seeking enhanced inventory control, with the platform integrated into enterprise systems for operational efficiency.
Who are the top competitors of Verusen?
Verusen's top competitors include MARKT PILOT, synthavo and SPARETECH.
What products or services does Verusen offer?
Verusen offers MRO Inventory Optimization, Spare Parts Criticality Optimization, Material Search & Discovery, Duplicate Material Identification, and Category & Supplier Spend Analysis.
Who are Verusen's investors?
Verusen has 8 investors. Key investors include Flyover Capital, Scale Venture Partners, Glasswing Ventures, Zetta Venture Partners, and Forte Ventures.