Plato Funding News – Plato raises $6.5M for AI-based ERP automation platform

Because of intense competition, ineffective sales procedures, and antiquated ERP systems, Benedikt Nolte, Matthias Heinrich, and Oliver Birch formed Plato to help their family's wholesale firm, which was on the verge of dissolving.

They started working on establishing a business that would utilize AI to help wholesalers like Nolte's family business deal with the present crisis and future-proof the sector.

Due to the present economic crisis, the wholesale business as a whole is facing several difficulties, such as a lack of workers, heightened rivalry, and the pressing need for digital transformation.

By analyzing thousands of client signals, Plato's AI helps teams process up to five times as much data and spot sales possibilities. By automating repetitive operations, retailers can increase their customer-facing activities by 65 percent while saving up to 20 percent of their time. Businesses can also hire new workers more quickly and scale their operations with current employees.

The platform of the business easily interfaces with current ERP systems, providing:

• AI-powered suggestions for upselling, cross-selling, and churn prevention are known as sales intelligence.
• By automating repetitive processes like creating quotes and orders, workflow automation frees up sales staff to concentrate on expansion.

“It 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.”

The German government and C-level angels from IT behemoths like Microsoft, SAP, NVIDIA, Celonis, Personio, Sennder, and Forto supported the round, which was headed by Cherry Ventures.

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“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 added some of Germany's biggest wholesalers and increased its clientele in the last year. Early adopters, such as Layer Grosshandel, attest to the platform's potential by reporting notable enhancements in sales operations and a decrease in manual duties.

Plato's workforce will grow with the additional capital, and the company will spread its solution across thousands of sales people and many significant clients.

About Plato

It is the leading sales intelligence platform for distributors. Our AI analyses and automations complement your ERP, increase efficiency, and boost your sales. Plato has added some of Germany's biggest wholesalers and increased its clientele in the last year.