KKR Invests in AI Software Maker O9 Solutions
Summary
KKR & Co.s technology growth fund has taken a minority stake in o9 Solutions Inc., valuing the cloud-based supply-chain management software maker at more than $1 billion. The private-equity firm invested $100 million in o9 Solutions through its KKR Next Generation Technology Fund II, which closed in January on $2.2 billion. The planning software developed by o9 Solutions uses artificial intelligence algorithms that companies such as Anheuser-Busch InBev SA, Caterpillar Inc. and Walmart Inc. utilize to help manage their end-to-end supply chain. Chakri Gottemukkala, chief executive and co-founder of o9 Solutions, said that he expects the partnership with KKR to help the business expand into countries such as China, Japan and South Korea. He indicated that the new capital will also help o9 Solutions invest in marketing, with the goal of reaching a broader array of customers in terms of both industries and geographies.
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