Succeeds Stephen Pratt who will Remain on the Board and Serve as a Senior Strategic Advisor
Company Announces $10 Million Funding Round Led by Current Investors TPG and Dell Technologies Capital
Noodle Analytics, Inc. (“Noodle.ai” or “the Company”), a leading provider of enterprise AI SaaS applications for digital supply chain planning, today announced the appointment of Stephen R. Collins as Chief Executive Officer. Stephen Pratt, who is the Company’s Co-Founder and current CEO, will serve as a Senior Strategic Advisor to the executive team and remain on the Board. Noodle.ai also announced that it has raised an additional $10 million in funding to support continued growth and product expansion.
Through advanced data science and AI/ML techniques, Noodle.ai delivers products that enhance current supply chain planning applications. Noodle.ai predicts key variables in demand and supply plans, computes probabilities, quantifies risks, and prescribes recommended actions for large organizations to make more profitable global supply chain decisions.
Collins brings a proven background as a software executive to Noodle.ai with more than 35 years of experience. For the past two decades, he has served as a public and private technology company senior executive and board member at companies including DoubleClick, Bazaarvoice, Quantcast, Wunderkind, and Skai. Collins has extensive global experience with SaaS, enterprise-level big-data solutions, ecommerce, digital marketing, and advertising. His experience building and growing businesses that bring new disruptive high-ROI technology capabilities to market will support our customers’ successful adoption of the Company’s solutions.
“Noodle.ai is at the forefront of AI innovation in the global supply chain industry and I couldn’t be more excited to join as CEO,” said Collins. “There is a tremendous opportunity for us to accelerate the adoption of supply chain AI and transform legacy processes, unlocking significant value that our customers cannot realize with existing tools. Noodle’s proprietary AI supply chain planning capabilities reduce waste and improve service levels by evaluating massive data sets in real-time to better evaluate risk and probability inherent in highly complex global supply chain systems. Together with Stephen Pratt, our Board, leadership, and investors, we have the team in place to deliver on Noodle’s mission to create a world without waste.”
“I’m thrilled to welcome Stephen Collins as the leader of the Noodle.ai team,” said Pratt. “With extensive experience in developing disruptive and rapidly growing markets like ours, he is the right leader at the right time to drive Noodle.ai as the most impactful Supply Chain AI company in the market.”
TPG Growth, the middle market and growth equity investment platform of TPG, which incubated Noodle.ai with Stephen Pratt in 2016, and Dell Technologies Capital led the $10 million funding round and are joined by other existing investors. The proceeds will be used to fund continued business operations and investment in the Noodle.ai platform.
“Under Stephen Pratt’s leadership, Noodle.ai has created products that solve the most pressing problems facing supply chain professionals,” said Nehal Raj, Partner at TPG and Scott Darling, President of Dell Technologies Capital. “It has been a pleasure to partner with him and the team, and together we have been laying the groundwork for this next phase of growth at the Company. We look forward to continuing to work with Stephen Pratt in his new role and are pleased to welcome a leader of Stephen Collins’ caliber.”
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