Loop, a startup focused on supply chain optimization, announced it has raised $95 million in a Series C funding round. Valor Equity Partners and the Valor Atreides AI Fund led the investment, joined by J.P. Morgan Growth Equity Partners.
The company's artificial intelligence platform, DUX, is designed to identify inaccuracies in supply chain invoices, which often lead to unnecessary costs. DUX processes physical supply chain documents, extracting data points beyond just text to interpret information with enhanced accuracy.
Loop's AI normalizes invoice data, links related information, and uses agents to detect cost discrepancies. The platform reportedly allows supply chain teams to complete freight expense audits in two hours, a process that traditionally takes several weeks.
In addition to invoices, DUX understands specialized documents like bills of lading and rate tables. The platform also tracks parcel locations to identify potential shipping bottlenecks and provides data to help negotiate better rates with shipping partners.
Loop's features also streamline payments to delivery companies, automating billing workflows and enabling early payment discounts, even with multiple shipping partners using different currencies.
"They’re taking data that was previously fragmented and inaccessible and are turning it into intelligence that improves cost, processes, and working capital," said Valor founder and CEO Antonio Gracias.
The new funding will be used to support additional supply chain automation use cases and expand the company's workforce.