Loop Secures $95M Investment for AI Supply Chain Platform
In brief
- Loop Payments has raised $95 million in funding to upgrade its supply chain optimization platform.
- The company's AI models can spot inaccurate supply chain invoices, which can lead to unnecessary costs.
- Loop's platform automates tasks and enables supply chain teams to complete freight expense audits in 2 hours instead of several weeks.
- The platform can also track the location of parcels and help customers negotiate better rates from shipping partners.
- The funding will be used to add support for more supply chain automation use cases and grow the workforce.
- Loop will continue to develop its AI platform to help companies improve their supply chain operations.
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