Cofactr, a NYC-based supplier of a provide chain and logistics administration platform, introduced the acquisition of Issue.io, a Cambridge, MA-based firm creating AI-based options.
The quantity of the deal was not disclosed.
Cofactr will combine Issue.io’s capabilities into its unified platform, the place essential {hardware} producers and R&D groups handle and automate each course of concerned in getting merchandise to market quick whereas navigating rigorous company and governmental processes. Now, they are going to moreover have full visibility into the standing of each half of their Invoice of Supplies (BOM), throughout the end-to-end direct materials administration course of.
Led by CEO Doug Shultz, Issue.io routinely tracks provider communications on each buy order that producers situation–throughout each provider they work with. The corporate’s AI resolution routinely evaluations emails and attachments, and compares the knowledge and stock particulars it finds with information within the firm’s ERP resolution.
Led by CEO Matthew Haber, Cofactr is a provide chain and logistics administration platform that eliminates compliance and operational roadblocks for essential {hardware} producers engaged on high-velocity initiatives. The corporate’s platform is in use by organizations that construct every part from rocket ships, satellites and drones to robotics, autonomous automobiles and wearables.
Cofactr’s acquisition of Issue.io adopted the corporate’s latest shut of its $17.2M Sequence A funding spherical in December 2024.
FinSMEs
06/02/2025
