Austin-Based LeanDNA Lands $4.5 Million in VC Funding

Richard Lebovitz, President and CEO of LeanDNA. Courtesy photo.

Austin-based LeanDNA, a data and analytics platform for factories, on Monday announced it closed on a $4.5 million round of funding.

Austin-based Next Coast Ventures led the Series A round. LeanDNA received a seed stage investment from Rony Kahan, co-founder of Indeed.

LeanDNA, founded in 2011, plans to use the funding to expand sales, marketing, product development and customer service.

“LeanDNA is well-positioned to become the dominant solution for actionable inventory management insights,” Mike Smerklo, Managing Director of Next Coast Ventures, said in a news release. “As the market continues to shift towards a lean, AI-optimized manufacturing model to reduce costs and improve quality and efficiency, LeanDNA provides data-driven insights that integrate into procurement and reporting workflows with astounding results. It is a powerful industry solution that we will scale to its full potential.”

With LeanDNA’s products, factories can manage inventory and increase operational efficiency, according to a news release. The company’s platform integrates with existing Enterprise Resource Programs.

“We are excited to partner with Next Coast Ventures to expand our efforts in solving a pressing challenge for manufacturers,” Richard Lebovitz, President and CEO of LeanDNA said in a news release. “They are under constant pressure to reduce working capital while improving operational efficiency. LeanDNA provides a solution that solves these problems rapidly and creates insights our customers can immediately act upon.”

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