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Tech company Inspectorio has announced a US$50 million Series B financing round, which was led by New York venture capital firm Insight Partners. Techstars, Flexport Inc., Ecolab Inc. and Matchstick Ventures also participated in the round.
Inspectorio will use this new capital to continue its bid to reinvent outdated processes and increase transparency in the supply chain. It also plans to grow its development, product and marketing teams.
Inspectorio is an AI-powered, cloud-based SaaS solution that helps retailers, brands, suppliers and manufacturers digitize processes and achieve operational excellence. The solution provides quality management, compliance and production tracking software.
The company is based in the US and was founded in 2016 by a team of Ecuadorian entrepreneurs: Carlos Moncayo, David Klein, Fernando Moncayo and Luis Moncayo. Their previous venture also offered an intercontinental supply chain solution. Now, with this new company, they seek to solve the problems that are usually found in this process.
Since its first product was launched in 2017, Inspectorio has expanded its offering and has acquired more than 7,000 customers. The founders of the company belong to the network of entrepreneurs promoted by Endeavor.
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