CORI Innovation Fund leads investment round in RAAD360
For Immediate Release
Jan. 3, 2022
HARTLAND, Vt. — Today, the CORI Innovation Fund (CIF) announced an investment in RAAD360 (RAAD), a provider of supply chain risk management software.
CIF is a Qualified Opportunity Fund that invests in high-growth technology companies supporting job creation and revenue generation in small towns across America. CIF is participating in this funding round in order to provide RAAD with capital to fund hiring and product growth efforts. RAAD is headquartered in an Opportunity Zone located in Newark, Delaware.
RAAD’s software platform provides end-to-end enterprise supply chain models and visualizations with flexible, multidimensional information overlays and built-in risk analysis and mitigation functions. RAAD enables organizations to systematically identify, evaluate, score and act to address supply chain and enterprise risks which can impact organizational performance and profitability. The company’s products work together with existing enterprise resource planning (ERP) systems to analyze unique permutations of potential risks and can be implemented through cloud-based or on-premises installations. RAAD provides a visual representation of the supply chain as well as a simple scoring system enabling all levels of management to evaluate supply chain risks.
“RAAD360 is positioned to offer its supply chain risk management (SCRM) software to a growing number of clients in governmental and commercial industry scenarios. The RAAD software platform provides extensive visibility of the end-to-end supply chain data extracted from enterprise systems, overlays internal and external risk alerts, provides customizable risk valuation and weighting, and offers integrated SCRM functions that enable its client to achieve intelligent supply chain resilience. RAAD360 is pleased to partner with CIF and its other investors to access vital capital to fund product and company growth,” said Michael Loveless, RAAD360’s CEO.
“The team at RAAD360 has created an impressive platform for tracking, managing, and mitigating risks associated with enterprise supply chains,” said Jay Bockhaus, managing partner of CIF. “We are pleased to support RAAD360’s expansion by providing funding for new hiring to supplement the company’s growth.”
RAAD represents CIF’s ninth investment to date.
RAAD™ is a new, customizable platform that enables organizations to systematically identify, evaluate, score, and act to address end-to-end supply chain and enterprise risks which can impact organizational performance and profitability. RAAD™ offers powerful connectors into ERP systems, and an open-source landing zone to combine all of the unique permutations of potential risk to an organization. RAAD™ works intelligently to identify potential risk combinations associated with critical parts of the supply chain: materials management, operations, product management, plant management, and enterprise management. The user-friendly RAAD™ platform allows organizations to evaluate, analyze and mitigate all identified risks, and supports both numeric scoring and qualitative textual evaluations to facilitate in-depth, meaningful and properly-targeted decision making and risk mitigation efforts.
About the CORI Innovation Fund
The CORI Innovation Fund (CIF) invests in growth businesses located in Qualified Opportunity Zones in the United States to enhance economic growth and job creation in small communities. CIF seeks out attractive technology-enabled operating businesses in rural geographies that are under-served by traditional venture capital institutions and identifies, funds, and supports the best tech entrepreneurs American small towns have to offer. For more information visit http://www.corifund.com.
About the Center on Rural Innovation
The Center on Rural Innovation (CORI) is a dynamic social enterprise solving America’s rural economic crisis by empowering small towns to build thriving digital economies. CORI’s three major initiatives form a comprehensive approach to catalyzing the digital jobs that drive sustainable economic success: the Rural Innovation Network, made up of 25 small communities nationwide dedicated to digital economic development; the Rural Opportunity Map, which incorporates hundreds of datasets to highlight promising rural areas; and the CORI Innovation Fund, which provides needed capital to innovative but underserved rural entrepreneurs. For more information visit www.ruralinnovation.us.
Contact: Rebekah Collinsworth
Center on Rural Innovation (CORI)