North Coast Ventures recently made an investment in Real Time Intelligence, Inc. (RTI), an asset visibility and analytics platform provider with rich supply chain expertise - granting its clients the ability to increase decision agility, automate manual processes and develop a more resilient supply chain.
Supply chain visibility issues were already known but immediately were heightened when the COVID-19 pandemic began. Other highly impactful risk factors, such as globalization, weather and nonlinear supplier ecosystems have only heightened the significance of end-to-end supply chain visibility.
This lack of visibility costs corporations hundreds of millions of dollars every year. From lost assets, to lost productivity, to expedited shipping costs – the pain of non-visibility into a company’s supply chain assets is significant.
Understanding this high-value problem and unmet market need is what drew North Coast Ventures’ attention to Real Time Intelligence.
RTI leverages sensor-based technologies to capture insights from tracking returnable containers throughout the supply chain, tools throughout the warehouse, raw material and WIP at product facilities and more, to recommend business decisions that drive efficiencies, reduce cost and decrease manufacturing waste. Their suite of cloud-based software solutions leverages this data and turns movement into actionable business intelligence.
CEO Dave Horvat leads a team with extensive domain expertise and diverse backgrounds in data science, API development, RFID, packaging and more. Over the years, they have worked to assemble a robust customer list of global brands and helped their clients save tens of millions of dollars in supply chain inefficiencies.
The investment in RTI was made from the North Coast Ventures Acceleration II Fund, which targets high-growth, B2B, SaaS companies that have demonstrated meaningful commercial traction and have articulated a credible plan to utilize larger amounts of capital for continued growth.
About North Coast Ventures
North Coast Ventures (NCV) is a Cleveland-based early-stage venture capital firm primarily investing in B2B, SaaS companies. With over 400 member investors, NCV is the largest, single-chapter investor group in the country. Since 2006, NCV and its member investors have deployed more than $90M into 67 high-potential ventures.
For more information about North Coast Ventures and its portfolio, visit northcoast.vc.