Czech company Inventoro is acquired by Cin7 for undisclosed amount

Cin7, an American inventory and order management software provider, has informed AIN about its acquisition of Inventoro, a Czech-based provider of AI-driven sales forecasting and replenishment optimization solutions. The acquisition will enable Inventoro customers to enhance existing inventory and order management capabilities.

• Founded in 2012, Cin7 provides Connected Inventory Performance – cloud-based inventory management software. According to the startup, it gives product businesses an automated and real-time view of the entire inventory lifecycle.
• Cin7’s products, Core and Omni, natively integrate with over 700 applications. Since founding, Cin7 supported product sellers in over 100 countries, served 8,000+ customers and processed over 125 million orders annually.
• Inventoro was founded in 2020 as a SaaS service to revolutionize the way small and medium-sized businesses manage their inventory. With its algorithmic sales forecasting, businesses can achieve optimal stock levels. Inventoro’s system is powered by advanced mathematics and artificial intelligence to achieve forecast accuracy.

We bonded with Cin7 immediately the day we first met, and this transaction is a natural progression of our proven line of cooperation. The two products together amplify our efforts to help SMB product sellers and manufacturers, ultimately connecting them to one large, efficient supply network while reducing waste and supporting local economies along the way,

Tomas Formanek, Inventoro’s founder and CEO, said.

• The acquisition and integration of Inventoro’s capabilities with Cin7’s platform will extend product seller’s access to its AI technology, and will provide customers to enhance existing inventory and order management capabilities with intelligent prediction and optimization. The deal amount was not disclosed.
• The deal is also the first live exit from Presto Ventures second fund.

We’ve built Presto with the goal of supporting talented tech founders in the CEE region and helping them propel their smart solutions worldwide. We celebrate the sale of Inventoro as an important milestone in fulfilling this vision. It’s yet another confirmation that Czech entrepreneurs have much to contribute to the global technology market,

Premysl Rubes, founder and managing partner of Presto Ventures, which was the first and only institutional investor in Inventoro, said.

In addition to the acquisition, Cin7 also announced the newly appointed CEO of Cin7, Ajoy Krishnamoorthy (ex-Microsoft, Acumatica).