SupplyHive™ Announces Closing of $2 Million Seed Round with Diverse Major Venture Capitalists: LOUD Capital, Revolution’s Rise of the Rest Seed Fund and Cleveland Avenue
Summary
“Capital from this funding will allow the company to reach the next level of scale and impact by growing our sales and marketing resources and furthering product development and integrations,” says SupplyHive™ CEO and President Lou Sandoval. “We can expand our strong list of clients that include some of the FORTUNE 100’s most enviable brands.” Sandoval added that “SupplyHive’s™ SPM solution offers much-needed transparency to companies’ efforts on DEI and ESG by creating pathways to identify ways to help suppliers grow. Through its newly created Cleveland Avenue State Treasurer Urban Success Fund (CAST US), the firm will use this initiative to bridge the capital and resource gap impacting Black, Latinx, and women entrepreneurs in Chicago’s South and West Side neighborhoods. Our user-friendly interface helps organizations hold suppliers accountable and deliver enhanced partnerships by measuring KPIs, analyzing trends and identifies disparities, automating action plans, and providing predictive analytics. The Rise of the Rest Seed Funds are backed by a group of iconic entrepreneurs and business leaders who have committed to our vision that the next great startups will be located outside of the coastal tech hubs.