Aera Technology Secures $80 million funding for AI software

Business intelligence software provider Aera Technology has landed $80 million in funding and plans to scale up its marketing muscle for the firm's "self-driving enterprise" catalog of artificial intelligence (AI) tools for supply chain decisions.

The investment was led by DFJ Growth—an arm of the Silicon Valley investment giant Draper Fisher Jurvetson—alongside participation from NewView Capital, Georgian Partners, and from Aera executives and an unnamed Aera customer. The "series C" funding follows earlier rounds of $50 million in 2017 and $25 million in 2016, bringing total venture funding for the firm to $170 million.

In recent months, the third-party logistics providers (3PLs) NFI Industries and Transplace have partnered with San Francisco-based Noodle.ai in order to add AI to their transportation and distribution activities. Supply chain technology firm JDA Software Group Inc. has added AI and machine learning (ML) capabilities to its platform by acquiring the German tech firm Blue Yonder GmbH, and enterprise resource planning (ERP) software vendor SAP AG says it will use AI to reach a goal of automating 50 percent of manual ERP tasks in the next three years.

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