Tacto raises €5.3m to build sustainable supply chains

Munich, the 22nd March 2022 - Munich-based software company Tacto raised € 5.3m to transform industrial procurement. The financing was led by venture capital firm Cherry Ventures together with UVC Partners, Visionaries Club, and Personio’s Hanno Renner, GetYourGuide’s Johannes Reck, Forto’s Michael Wax, and Helsing’s Torsten Reil.

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Manufacturing companies are currently affected by massive disruptions in global supply chains. The improving economy has filled the order books of most companies, but due to material bottlenecks, production cannot keep up. In 2021 alone, this has resulted in a loss of more than 38 billion euros.¹ Procurement is the interface to a company's entire supply chain in this context.

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“Tacto is partnering with the industrial market leaders of today to build the digital leader of tomorrow. Together we future-proof the backbone of the world economy by running industrial procurement - digitally, intelligently and sustainably," says André Petry, Managing Director and Co-Founder of Tacto.

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On average, industrial companies spend around 50% of their turnover on procured parts.² As products become more sophisticated and supply chains more complex, procurement must ensure the on-time, on-quality, on-budget and sustainable delivery of thousands of parts. Existing tools are usually too expensive for medium-sized companies, implementation takes too long and outdated technologies lead to employee dissatisfaction.

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"With Tacto, we are significantly advancing the digitalisation of our procurement: thanks to the software, which can be operated by all employees, we are moving away from Excel-based processes towards a completely digitalised procurement. A few months after the implementation, we were already able to record strong savings potentials," says Matthias Schlotter, Procurement Manager at Schwäbische Werkzeugmaschinen.

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Tacto has partnered up with leading players from the Industrial Mittelstand to jointly co-innovate the future of procurement. The AI-based software gives customers a transparent overview of their procurement activities, algorithmically highlights savings potential and risk, and automates transactional workflows in sourcing and supplier management so they can focus on what matters: shipping products to customers.

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“We are confident that Tacto can become a category winning procurement suite for medium-sized companies by helping these businesses to unlock significant savings and create resilient supply chains from day one,” says Christian Meermann, Founding Partner at Cherry Ventures. "More so, Tacto's team combines a strong tech foundation with a deep understanding of the industrial world to work on fixing industrial supply chains, one of the most pressing issues of our time. With all of its hidden champions, Germany is the perfect location to build the future leader in procurement tech.”

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References 

[1]: ifo Institute Munich, https://www.ifo.de/node/65936
[2] VDMA: https://www.vdma.org/einkauf-materialwirtschaft