SAN FRANCISCO -- SKUPOS Inc., a retail distribution software company specializing in the convenience-store industry, announced that it has raised $2.41 million in seed funding.
SKUPOS automates key functions and upholds supply-chain transparency. The integrated solution provides real-time inventory, automated purchasing and operational intelligence to c-store operators and their distributor partners. It is a data-driven, two-sided inventory management system allowing c-stores to automate inventory management and ordering, while providing distributors and brands with real-time inventory levels in their accounts, as well as the ability to quickly generate reorders.
The patent pending technology integrates with a c-store’s existing point-of-sale (POS) system, enabling real-time inventory management accessible from any device.
The conversion of manual processes to automation has enabled distributors to save money and increase efficiencies throughout the order capture process, the company said.
The company said it is accepting beta customers, both convenience stores and distributors. The funds will be used to continue product development.
Dynamo Fund led the round with Toba Capital. The company also received investment in one previous round, the first in July 2016 from industry angel investors and technology veterans in San Francisco.
The company said more than 200 stores have implemented the software.
Jake Bolling, co-founder of SKUPOS, said he believes the “convenience-store industry is the cornerstone of the American retail economy, but has lacked a platform that is agnostic both to the retailer, as well as distributor. Custom, in-house solutions negate scalability across multiple retailers and distributors, creating inefficiencies. We’re harnessing the data that has been locked up throughout the industry for decades, providing value to both sides of the market through a single platform.”
Bolling founded the San Francisco-based company in April 2016 with Michael Glassman and Linh Nguyen. It launched in early fall 2016.