In a nutshell
- Cin7, an inventory and order management software provider, announced the acquisition of Prague-based Inventoro, a provider of AI-driven sales forecasting and replenishment optimization solutions.
- The amount of the deal remains undisclosed.
Get the details
Cin7 provides cloud-based inventory management software that gives growing product businesses an automated and real-time view of the entire inventory lifecycle. Founded in 2012, US-based Cin7 has grown into a global company. According to their data, it supports product sellers in more than 10 countries, serving 8K customers and processing over 125 million orders annually.
Czech Inventoro, founded in 2022 by Tomas Formanek, aims to optimize the way small and medium-sized businesses manage their inventory. The company’s AI-powered forecasting technology is developed to predict future product demand, providing daily updates on key optimization performance and insights on which products drive profits.
Previously, the company was backed by the Czech VC Presto Ventures.
The merger of Inventoro with Cin7 aims to extend the product seller’s access with advanced AI technology, enhancing inventory and order management through intelligent prediction and optimization.
In their own words
“Inventoro’s AI forecasting and optimization capabilities are a perfect complement to Cin7’s robust inventory management solutions,” said Ajoy Krishnamoorthy, Cin7’s CEO. “Together, we’ll provide customers with unprecedented inventory intelligence so they can maximize sales, minimize excess stock, and make informed decisions across their operations.”
“We bonded with Cin7 immediately the day we first met, and this transaction is a natural progression of our proven line of cooperation. The two products together amplify our efforts to help SMB product sellers and manufacturers, ultimately connecting them to one large, efficient supply network while reducing waste and supporting local economies along the way” said Tomas Formanek, Inventoro’s founder and CEO.
