#Israel #Tel Aviv #procurement #AI Employees #Gain

Gain's Innovative AI Employees Revolutionize Procurement

Gain, a pioneering startup in deep tech, made a significant stride in procurement technology by unveiling its intelligent AI Employees designed for businesses. Recently emerging from stealth mode, Gain announced it has successfully secured $12 million in a seed funding round. This round was led by notable investors including The Garage, BlueRed Partners, and Bazan Group.

The introduction of Gain's AI Employees marks a significant leap in the realm of procurement and operational workflows. These AI-driven solutions are capable of handling a complete spectrum from category strategies and sourcing to negotiations, contract execution, transaction processing, and managing exceptions. Their autonomous workforce functions seamlessly with existing ERP systems, enhancing both productivity and collaboration.

In a world increasingly plagued by geopolitical tensions and trade uncertainties, supply chains have become vulnerable and unpredictable. This volatility especially affects sectors with long-tail expenditures like retail, consumer packaged goods (CPG), energy, and chemicals. In these industries, countless minor purchases can often fall through the cracks, resulting in substantial hidden costs. While early-stage AI copilots have begun automating some aspects of negotiations and transactions, they typically lack the capacity to replicate human judgment and handle complex situations requiring cultural awareness and regulatory compliance.

Contrasting with these limitations, Gain's AI Employees are engineered to function more like trustworthy teammates—capable of managing both routine and complex procurement tasks with efficiency. Unlike traditional models that charge per seat license, Gain offers a pay-per-outcome model, which is intended to promote early adoption and reduce costs considerably compared to human resources.

Eyal Radler, Managing Partner at The Garage, remarked on Gain's position in this competitive landscape, noting that they are not only driving advancements in AI but also disrupting the conventional SaaS pay-per-seat framework. Radler emphasized how Gain's exceptional access to customers and its creation of proprietary datasets provide a significant advantage in establishing a competitive moat in the market.

Similarly, Yishai Klein of BlueRed Partners expressed his enthusiasm for Gain's vision, highlighting the company's capability in overhauling complex procurement processes across a variety of industries and markets. Klein applauded Gain's experienced leadership, asserting that this foundation will aid them greatly in expanding into the Asia-Pacific region.

The technology behind Gain's AI Employees has been developed by a team comprising top-tier AI and cybersecurity experts. It integrates advanced reasoning capabilities, domain-specific models, and orchestration layers to allow these AI Employees to collaborate effectively in secure conditions. Each AI Employee is customized per client requirements and benefits from rigorous training, simulations, and real-time feedback to outperform human counterparts consistently while ensuring compliance and delivering a measurable return on investment (ROI).

Netta Benari, Head of Business Development Innovation at Bazan Group, highlighted the significance of effectively managing long-tail spend for large energy enterprises, viewing Gain's offerings as a game-changing opportunity to cut costs across various procurement functions. By participating in pilot programs with Gain, Bazan aims to explore synergies that can further streamline their operations.

Tempo Beer Industries, Israel's largest brewer, is another key player piloting Gain's AI technology. CEO Daniel Beer believes that collaborating with Gain to implement AI Employees in procurement represents a natural evolution for their longstanding commitment to automation and robotics within operations. He articulated excitement about how AI Employees like 'Natalie' and 'Bob' become integral members of the procurement team.

Leading the company is CEO Michael Gabay, a seasoned professional who previously launched Trigo, an advanced retail automation platform. Gabay focuses on addressing the pressing challenges faced in sourcing and procurement. He argues that traditional automation solutions often fall short in managing the complexities and uncertainties of the procurement field. Hence, they constructed a specialized team skilled in AI, big data, procurement, and cybersecurity to develop AI Employees that can compete with industry veterans.

Key Features of Gain's AI Offerings:

• - Pay per Outcome: Clients pay only for tangible results, ensuring mirrored expectations and costs.
• - Autonomy with Oversight: The AI can operate autonomously but allows optional human intervention, maintaining client control and transparency.
• - Tailored Training: AI Employees receive customized training to suit specific industries, cultures, and supply bases.
• - Secure By Design: Built with comprehensive security measures, ensuring sensitive data and operations remain protected.

Gain's current AI Employees include Natalie, specializing in category strategy and negotiation, and Bob, who handles tactical buying and contract execution. The newfound funding will fuel further research and development and support the debut of additional AI Employee roles.

For more information, visit GetGain.com.