Verusen

Verusen provides an AI-powered platform for centralizing procurement and stocking strategies and streamlining request for quote (RFQ) data. Verusen’s platform’s features include scenario modeling to centralize the procurement and stocking strategies, sharing excess materials between facilities, and centralizing inventory stores and hubs. The platform is system agnostic and enables maintaining a single view of material data across different systems. The company offers its product on a subscription-based SaaS business model.

Key customers and partnerships

As of January 2022, Verusen served customers in 25 countries globally. As of April 2024, the company had helped customers manage USD 3 billion of inventory and 3 million separate stock-keeping units (SKUs).

In November 2022, Silver Birch Finance, a working capital advisory and execution firm entered a partnership with Verusen to offer the company’s technology to Silver Birch’s corporate clients. Several of the company’s global partnerships include SAP, NTT Data, Accenture, ATDC Georgia Tech, and AWS.

Funding and financials

In January 2022, Verusen raised USD 25 million in a Series B round led by Scale Venture Partners to expand its global presence and to further improve its platform by broadening the focus to include the indirect MRO (maintenance, repair, and operations) and direct materials spaces.