Further growth for Keelvar due to supply chain issues
CEO and founder of Keelvar Alan Holland; the company has seen a 50% growth of its workforce since the start of the year. Picture: Victor Horgan Photography.
The ongoing global supply chain crisis has led to significant further growth for Cork artificial intelligence (AI) supply chain firm Keelvar.
In the most recent quarter, the company has added supermarket firms Tesco and the Musgrave Group along with tech giant Microsoft to its list of customers utilising the firm's software to optimise their supply chains and sourcing of products and raw materials.
In an update, Keelvar said it has added 11 new customers ending its third quarter; this follows the company’s record growth in the first half of 2021.
So far this year, 21 new global enterprises have signed up as new clients.
The tech firm was founded in 2012 and Keelvar already works with a number of high-profile clients such as BMW, Coca Cola, Glanbia, and Novartis managing more than €80bn in annual spending for enterprises in all major industries.
In the past quarter, the company has made a number of organisational changes and has seen a 50% growth of its workforce since the start of the year.
New customers added recently include Royal FrieslandCampina, Mauser Packaging Solutions, KK Wind Solutions, and others in retail, consumer goods, food and beverage manufacturing, logistics, and diversified manufacturing.
"As sourcing complexity continues to increase and more negotiations are happening ‘off contract’ due to supply chain volatility, procurement leaders recognize the need to empower their teams with a solution that can optimise and speed supplier decisions for total value,” Alan Holland, CEO and founder of Keelvar, said.
“We are very excited to support our new customer class of 2021 through rapid on-boarding and return-on-investment realisation amidst resourcing constraints, disruption, and intense market competition as the need for sourcing modernisation and automation rises."
As a result of its growing number of customers across industries, Keelvar is seeing deeper application in spending categories, such as ingredients, components, facility and professional services, in addition to its bedrock handling of logistics and packaging procurement challenges.
The company said sustainable sourcing is also increasing in practice within the Keelvar platform, said Holland.
Last June Keelvar secured $18m (€14.7m) in Series A funding to accelerate its product development and global growth announcing plans at the same time to recruit 40 new workers over two years.
