UPDATED 07:00 EDT / APRIL 18 2017

BIG DATA

Analytics startup LeanDNA nabs $4.5M to make factories more efficient

In the manufacturing world, the discussion around analytics focuses mainly on how sensory measurements from the factory floor can help streamline production. But it’s only one of several areas where modern data-crunching tools are proving useful.

Another is supply chain management, which is where LeanDNA Inc. is focusing its efforts. The Austin-based startup today announced it has secured a $4.5 million funding round led by a local venture capital firm called Next Coast Ventures. The money will go towards widening the adoption of its offering, a cloud-based business intelligence platform that aims to help factory operators find useful patterns in their inventory data.

LeanDNA provides the ability to turn the material costs, order sizes and countless small details that make up the whole picture into interactive graphs that business personnel can use to identify areas for improvement. An analyst at an electronics manufacturer, for instance, could employ the service to quickly compare the total value of competing supplier bids.

LeanDNA’s core analytics capabilities are joined by a high-level reporting feature that makes it possible to quickly check up on inventory changes. According to the startup, it’s useful for monitoring how procurement expenses and other key metrics change over time. Moreover, analysts can track the progress of business initiatives using two value-added modules that LeanDNA offers for its platform.

The first is dubbed Lean Project Execution and lets teams log their activities on a digital board similar to what Trello offers. LeanDNA sets itself apart by automatically visualizing key information about projects to show their impact on operations. The other module provides a workspace for organizing long-term strategic goals.

LeanDNA hopes that these features will give its platform an edge over the numerous general-purpose business intelligence tools on the market. Besides Next Coast Ventures, the startup’s pitch has also won over Indeed Inc. co-founder Rony Kahan, who led its seed funding a few quarters ago.

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