Cofactr has made an acquisition for artificial intelligence (AI)-driven solution Factor.io.
Cofactr is a supply chain and logistics management platform for hardware manufacturers. The acquisition aims to enhance Cofactr’s capabilities by automating the ordering and tracking of materials, components, and parts across multiple suppliers.
Factor.io’s technology provides manufacturers with detailed tracking and automated supplier communication. Its AI system reviews purchase orders, emails, and attachments, comparing them to existing company data. The platform sends daily exception reports to alert manufacturers of discrepancies and automates follow-ups with suppliers. These features will now be integrated into Cofactr’s platform, offering users end-to-end visibility of their supply chain processes.
How the Factor.io acquisition will benefit Cofactr
Hardware production often involves coordinating hundreds or thousands of components sourced from different suppliers. Delays in obtaining even a single part can disrupt factory operations and stall production timelines. Factor.io’s automation tools help manufacturers avoid these issues by ensuring better communication and tracking orders.
Factor.io is already used by companies in sectors such as defense, aerospace, robotics, and MedTech. Its clients include the world’s largest autonomous delivery system manufacturer and a leading life sciences instruments producer.
“Whether an organization is supplying critical hardware to U.S. government agencies or meeting ambitious product goals in emerging markets, they need ways to optimize processes and maintain speed,” said Matthew Haber, CEO and co-founder of Cofactr. “With this acquisition, we’re providing acute visibility into the entire bill of materials across suppliers directly through our platform.”
The integration will enable Cofactr users to manage procurement, approve and pay for orders, move items between vendors, track deliveries, and monitor stock availability. The platform supports compliance with governmental regulations and integrates with systems like NetSuite, Oracle, SAP, Infor, and Siemens.
Doug Shultz, CEO and co-founder of Factor.io, will join Cofactr as head of strategic accounts. In this role, he will focus on partnering with key customers and advancing the platform’s development.
“Poor data quality in the supply chain leads to costly delays and inefficiencies,” Shultz said. “By combining our capabilities with Cofactr’s platform, we can help manufacturers eliminate time-consuming tasks and increase efficiency.”
This acquisition follows Cofactr’s $17.2 million Series A funding round in December 2024. The company’s clients include the robotics division of a leading ecommerce marketplace, the hardware arm of a major social media company, and a top autonomous vehicle manufacturer.
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