For Rajesh Kalidindi and his Sourcing team, the challenge was dramatic. Facing surging competition, a senior executive for a multi-billion dollar product unit needed significant savings in the current year to defend gross margins. Find four more points—a fifty-percent increase—beyond what you already negotiated four months ago. Rajesh and his team were ready to act.
But there were no IT resources available. They were deployed across critical corporate initiatives. There would be no additional budget. After all, gross margins were already under pressure. And there wasn’t time to prepare another major sourcing event. Now the team had to innovate.
The team did have serious brain power and a talented consulting partner. Agreeing to a unique gain-sharing approach, the two groups huddled together. Over two months, they worked six days a week, for twelve hours a day. They created a new data-driven negotiation approach. It combined every bit of relevant internal data with fresh, external market intelligence. The outcome: a comprehensive negotiation strategy and playbook.
Then, over one week, they engaged their suppliers. For every offer received, the team countered with real data. The suppliers had subjective arguments. The team had hard numbers, all at their fingertips in the playbook. Every opportunity documented, every insight captured.
At the end of the process, the team delivered almost double the savings requested by the product unit GM. That meant sixty million dollars added to the bottom line. Three months later they repeated the process for another business line.
That’s when the wheels started turning. This approach was perfect for a cloud-based solution, usable in a repeatable way. Rajesh reached out to forty other procurement leaders at other organizations. All said the same thing: “That’s a problem we must solve.”
Many told him: “If you make it, I’ll buy it.”
So LevaData was born. The Cognitive Sourcing™ Platform offers customers these data-driven negotiating tools with the same focus on delivering a sustainable value proposition.
Our SaaS platform is purpose-built for the procurement and sourcing functions. It’s always on, which means it can find opportunities well before you need them. It uses crowd-sourced intelligence, unlocking the wisdom of the market for you. An innovative, AI-powered platform provides recommendations on when to act and how to optimize your negotiations.
All this transforms sourcing & procurement into a sustainable competitive advantage with real, hard dollar ROI.
The LevaData Mission
LevaData’s team of strategic sourcing leaders, software, and data engineering innovators has one relentless mission – to make strategic sourcing capability a competitive advantage for enterprises.
Our goal: to deliver twenty billion dollars in incremental customer value by the year 2022, leveraging data, community, technology, and talent.
Press & Media
Recent Press Coverage:
PYMNTS.COM, 9/1/17: From AI To T&E, B2B FinTechs Rake $141 Million
B2B E-Commerce World – Internet Retailer, 9/1/17: Supply Chain Firm LevaData Gets $5 Million in Funding
NewsCenter.io, 8/30/17: Enterprise IT Startup LevaData Brings In $5 Million
Spend Matters, 8/30/17: Afternoon Coffee
Silicon Valley Business Journal, 8/30/17: The Funded
DC Velocity, 8/30/17: LevaData Lands $5 Million Investment for Supply Chain AI
Axios, 8/30/17: Pro Rata Wednesday, August 30
VC News Daily, 8/29/17: LevaData Receives $5M
The Wall Street Journal, 8/29/17: Funding Snapshot: LevaData Raises $5 Million Series A to Reduce Supply Chain Costs
Fortune, 8/29/17: Term Sheet – Tuesday, August 29
SiliconANGLE, 8/29/17: LevaData’s New AI Platform Takes Aim at Supply Chain Costs
FINSMES, 8/29/17: LevaData Raises $5M in Series A Funding
PE Hub, 8/29/17: LevaData takes in $5 mln Series A from Tola Capital
Business Wire, 8/29/17: LevaData Guarantees Savings with First Cognitive Sourcing Platform
Business Wire, 8/29/17: LevaData to Transform Strategic Sourcing for Global Procurement and Supply Chain Leaders
Founder & CEO
Rajesh has over twelve years of experience managing strategic sourcing and supplier management for multiple commodities and third-party manufacturing operations. He’s delivered significant bottom line savings through data-driven procurement practices for Cisco and Palm. An MBA with concentrations in supply chain management and information systems from Michigan State University, he is a thought leader on fusing human with artificial intelligence for procurement innovation.
EVP of Sales
Mark Cosway brings more than thirty years of experience and is a veteran supply chain technology evangelist. He has worked with industry innovators such as GT Nexus, Transvoyant, Excelon, and i2 Technologies. Known as “Coach Cos” internally for his engaging leadership style and strategic thinking, he is responsible for LevaData’s commercial sales, alliance partners, and growth strategies.
SVP of Marketing & Customer Success
Richard believes that a customer’s success is his success. Over his twenty year career, he’s worked for both scrappy start-ups, supply chain innovators like i2 Technologies and GT Nexus, and tech luminaries like Microsoft. He is passionate about driving massive performance improvements through the latest in AI technologies. Richard has dual degrees from Stanford University in Political Science and International Policy Studies.
CP leads technology strategy, engineering and data services with an unyielding focus on scalability. He brings over twenty years of experience developing advanced supply chain analytics, optimization, planning, and analytics solutions. Most recently, CP was CTO at Steelwedge Inc., where he architected and developed market-leading business planning software by building a high-performance development team.