Noodle.ai gets $35 million to eradicate bad decisions
Business is full of bad decisions.
You see the results of them every day: empty store shelves, wasted energy, packages that don’t arrive on time, labor forces over or under worked, even factories closing.
Now, we’re not blaming anyone – these are simply the results of inaccurate predictions and ill-advised decisions, made in silos by broken planning processes. It’s high time that changed. If we’re going to have 11 billion people on the planet, we need to get a LOT more efficient in how we spend resources.
And that’s where Noodle.ai comes in. Yes, we are in the heavily hyped artificial intelligence space. But we’re (proudly) not about drones, robots, or chatbots, nor experimental pie in the sky. We’re real people, using machine learning algorithms, to help businesses predict and decide better.
Two years ago, when we first came up with the idea for Noodle, we knew that continuously learning algorithms could drastically improve every business decision made. Suddenly, they had become practical and affordable. The combined power of big data, supercomputing technology, and artificial intelligence mathematics had crossed a key threshold. We felt this seismic shift as we interacted with Amazon, Uber, and Waze.
But big enterprises were still struggling to hire, retain, and coordinate large teams of data scientists, big data engineers, supercomputing technologists, and user interface designers who could consistently produce high value business applications.
Companies with outdated technology stacks and ERP/CRM systems failed to turn information availability into better decisions for their customers and shareholders.
So, we stepped up and built a company that meets a critical need.
And as we’ve found out in our short two years of existence, the market welcomes this use of AI, because it isn’t science fiction and it isn’t scary. It works for good: it saves money, and it can even optimize energy use.
Ask the steel industry, which we are proudly helping get more efficient in predicting lead times, lowering energy use, and conducting predictive maintenance.
Another example of AI powering better decisions is in consumer products, where planners get 500,000 alerts from their planning systems every week. They attend thousands of meetings and field hundreds of thousands of alerts. It’s a barrage of technology, none of it particularly useful in amplifying their human potential, let alone helping them actually plan for the future.
This is the crisis of modern work: too much data, used the wrong way. But it doesn’t have to be that way. We can use machine learning algorithms to automate the mundane, make sense of vast sets of data, predict the future, and empower better decisions.
Today we are proud to announce that Dell Technology Capital and TPG Growth have invested $35 million in our Series B funding round, and we’d like you to join our movement: let’s eradicate bad decisions, once and for all.
We’ll be using that money to build out more applications in manufacturing, CPG, and transportation and logistics.
I am incredibly proud of our global team of Noodlers and what they have accomplished in such a short time. We can’t wait to see what they will do in the years to come.
If you would like to see how our applications can improve everyday decisions in your business, let’s noodle.
Photo by Robin Benzrihem
- CIOs Discuss “Life Since COVID-19: The Supply Chain Becomes a Strategic Asset”
- Noodle.ai’s Manufacturing Application Platform: An API-First Strategy
- MMSteelClub and Noodle.ai: Webcast Video Highlights from the Steel Making Technologies Session
- Advanced Supply Chain Planning with Noodle.ai: Plain-Speak for Supply Chain Leaders
- Data Science in the Time of COVID-19