Matchory has collected 1.6 million dollars in a seed funding round, between Earlybird Venture Capitals UNI-X team of angels, and other industry and procurement investors. The Germany-based startup has created an AI-powered procurement platform, that collects supplier details along the chain and makes it available to strategic sourcing teams centrally. Matchory is being used by companies such as DMG Mori, tesa, and Bosch, in a market that is expected to grow.
Matchory addresses many procurement problems, making supply chains more resilient, transparent, and flexible. Supply Chain Act requirements, geopolitical risks, and supply chain shortages make it important for economies to be prepared for unexpected events. Millions of vendors manually organize their supplier data, which results in very few of the available data points being considered. In a marketplace where the market is changing rapidly, having clarity and flexibility is crucial for buyers, which is why strategic sourcing is important. It will help companies recover from any disruptions, as well as help minimize their corporate risks. CPOs are focusing on digital transformation because of the transparency and flexibility that it can provide.
Matchory provides a global supplier database that allows procurement department to find and evaluate suppliers in an automated manner. The database gives them dynamic information about suppliers in real-time, making it easier for them to manage their supply chains. The database contains information about more than 10 million suppliers worldwide, and is continually expanding. Matchory is a data company that helps companies discover and evaluate supplier information all over the world. Their future sourcing solution helps companies bring savings in production costs up to 35%, and help products get to market faster between 50% and 85%. Matchory has 2 billion data points that show a clear view of the worldwide market, and help companies see which suppliers would be best for their procurement needs. Matchory is based in Munich and Frankfurt, and their supplier discovery tool is used by more than 1000 companies on a regular basis.
Matchory is co-founded by Aiko Wiegand, and their software-as-a-service solution is key for supplying companies to make informed, sustainable, decisions about their manufacturing processes, and suppliers. Matchory is improving their SaaS solution by integrating additional data sources, and adding exciting new features, thanks to the investment. Aiko Wiegand is the CEO of Matchory.
Matchory is a SaaS-platform that is open, flexible, and can be easily integrated into procurement systems. The Matchory system can manage an suppliers entire portfolio in a organized way, and can provide early warnings about potential issues in existing supply chains. Purchasing can use several tools to help them eliminate risk quickly, and make supply chains more sustainable and transparent. This can ultimately improve the quality of a products.
Matchorys CPO, Nils Liskien, worked with his customers and partners in different industries to develop a unique solution for strategic sourcing.
Dr. Frédéric du Bois-Reymond is an Earlybird UNI-X Partner. He believes that Matchory has the right solution and time to provide solutions for global companies in supply chains, and is happy to be part of their journey.
Matchory brings transparency to global supply chains and offers strategic sourcing an automated supplier search. By using big data and state-of-the-art technology, supplier information is aggregated worldwide, processed and compiled in a unique database. Intelligent search algorithms and artificial intelligence permanently optimize the search and adapt it to the user.
Earlybird is a private venture capital company that invests in European technology businesses of all growth stages. Offering its invested companies not only financial support, but also strategic and operational advice, as well as placing them in an international network of capital markets, Earlybird is one of the most experienced VC companies in Europe. Earlybird manages different funds focusing on digital technology and healthcare technologies in Europe, both Eastern and Western. They have managed over EUR 2 billion across all their fund streams, with 8 IPOs and 30 trade sales. Earlybird is one of the most well-established venture capital firms in Europe, having been founded in 2001.