How Kodiak Hub’s AI Driven SRM Will Transform Procurement

Supply chain disruptions, unfortunately, are now the norm across the world.

From geopolitical tensions to natural disasters a range of factors today play havoc on them.

Addressing this is Kodiak Hub, empowering procurement leaders and multinational organisations to navigate supply chain challenges with data-driven precision.

Kodiak Hub has announced it has secured €6 million (Approx US$6.3m) in funding from Oxx, a leading B2B SaaS investment firm.

It marks a major milestone in its journey to redefine Supplier Relationship Management (SRM) for global procurement and sourcing teams.

The critical need for sustainable & resilient supply chains

Making sure your practices are sustainable is no longer optional, but vital. According to the UN Global Compact, supply chain emissions account for a staggering 70% of the average corporate value chain's total emissions.

Now more than ever, there are demands for operations to be transparent and undertaking fair trade practices, which means many companies are evaluating themselves and their sourcing and procurement strategies.

Adverse practices in the supply chain can significantly impact both brand reputation and shareholder value, putting responsible procurement practices in the spotlight.

With these shifts in expectations, the cost of disruptions in the supply chain have become painfully clear. In 2023, The Economist reported that companies suffered revenue losses of 6-20% due to supply chain issues, while a recent McKinsey study estimated that disruptions could cost companies up to 30-50% of EBITDA.

With these challenges escalating, resilient supply chains have emerged as essential to business continuity, top-line growth and long-term stakeholder value. This has propelled procurement and sourcing leaders into the C-suite, where they are now instrumental in shaping sustainable, resilient and profitable operations.

How Kodiak Hub is helping procurement leaders build resilient supply chains 

In the wake of these disruptions – from critical microchip shortages to sharp increases in energy and food prices following Russia's invasion of Ukraine — businesses worldwide are racing to secure resources at the right time and cost.

Kodiak Hub provides a purpose-built platform to support procurement leaders in facing these challenges, providing them with a comprehensive view of supply chain risk and performance. With a 360-degree risk overview, Kodiak Hub's solution transforms complex data into actionable insights, thus giving Chief Procurement Officers (CPOs) and strategic buyers the power to make high-stakes, multi-billion decisions with confidence.

Kodiak Hub is proud to support over 80 procurement leaders across manufacturing and other essential industries, helping them build resilient supply chains, mitigate risk and meet complex compliance requirements.

The platform's success has been recognised globally. For the past three years, Kodiak Hub has been listed in the ProcureTech 100 rankings as a leading SRM solution, as well as a Spend Matters' "50 to Watch" and "Customer Favourite in Supplier Management" in procurement technology for the past two years.

What this funding means for Kodiak Hub's future

With Oxx's partnership and investment, Kodiak Hub will expand its reach even further, focusing on entering the US market and growing its teams in both commercial and data analytics roles.

It will also continue to enhance its platform, with a particular emphasis on developing new AI-driven data analytics tools. These advancements will empower procurement teams with even greater insights, speed and efficiency, enabling them to navigate today's challenges and seize new opportunities.

Leading the charge in sustainable procurement

Kodiak Hub's team believes that procurement can play a pivotal role in creating a more sustainable world. By empowering businesses to optimise resource efficiency and make sustainable choices, our platform helps to reduce the overall environmental impact of the supply chain.

Malin Schmidt, Founder and CEO of Kodiak Hub, says: "Our robust data sourcing and continuous intelligence-building enable customers to make smarter decisions that unlock greater value across their supply networks while reducing costs and amplifying sustainability impact."

Partnering with Oxx for a shared vision

Oxx's investment signals a shared commitment to reshaping SRM.

"As companies face increased pressure to meet regulatory and sustainability requirements, Kodiak Hub's sophisticated analytics and AI-driven insights are uniquely positioned to enable procurement leaders to take a proactive approach in managing supplier quality, risk and compliance," adds Ingrid Bonde Åkerlind, Principal at Oxx.

"Malin and her team have crafted a 'data cockpit' for procurement, essential in today's landscape, and we are thrilled to partner with them on their journey to redefine Supplier Relationship Management."

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