Berlin-based AI-based ERP automation platform for wholesale distributors, Plato, has raised $6.5 million Pre-Seed funding.
Plato was founded by Benedikt Nolte, Matthias Heinrich, and Oliver Birch to support Nolte’s wholesale family business on the brink of closure, due to high competition, inefficient sales processes, and outdated ERP systems.
They set about building a company that uses AI to future-proof the industry and help wholesalers like Nolte’s family firm navigate the current crisis.
The entire wholesale industry faces significant challenges, intensified by the current economic crisis, including labour shortages, increased competition, and the urgent need for digital transformation.
Plato’s AI analyses thousands of customer signals, identifying sales opportunities and enabling teams to process up to 5x more information. Automating routine tasks saves up to 20 percent of sellers’ time, increasing customer-facing activities by 65 percent. Further, companies can scale their operations with existing staff and onboard new employees faster.
The company’s platform integrates seamlessly with existing ERP systems, offering:
- Sales Intelligence: AI-driven recommendations for cross-selling, up-selling, and churn prevention.
- Workflow Automation: Automates routine tasks such as quote and order creation, freeing up sales teams to focus on growth.
“Plato is the all-in-one platform where distribution sellers thrive,” says Benedikt Nolte, CEO of Plato.
“Our solution transforms how distributors engage with their data and automate their processes, unlocking new levels of profitability for our clients.”
Cherry Ventures led the round, with additional backing from the German government and C-level angels from tech giants including Microsoft, SAP, NVIDIA, Celonis, Personio, Sennder, and Forto.
“Plato’s product aligns perfectly with Cherry’s core AI thesis of augmenting the modern workforce”, says Jasper Masemann, Partner at Cherry Ventures.
“We spoke to countless teams across Europe, but only the exceptional team of Plato had the industry knowledge and technical capabilities to build a product for the massive market of wholesalers that will give them a decisive advantage over their peers.”
Plato has tripled its client base in the past year and onboarded several of Germany’s largest distributors. Early adopters, like Layer Grosshandel, report significant improvements in sales operations and reduced manual tasks, validating the platform’s potential.
The new funding will help expand Plato’s team and scale its product across multiple large customers with thousands of sales representatives.
Lead image: Plato. Photo: uncredited.
By Tech.eu
Source: Tech.eu