Source: Beroe
Beroe, the global leader in procurement decision intelligence, announced its acquisition of Forestreet, the London-based pioneer in AI-powered supplier discovery.
Beroe and Forestreet share a common purpose: challenging legacy approaches to market and supplier intelligence through cutting-edge technology. That alignment has been the foundation of Beroe’s initial strategic investment in Forestreet last year, and going forward, it forms the basis of a deeper integration. With this acquisition, Beroe is accelerating its ability to innovate, bringing together best-in-class talent, proprietary data, and cutting-edge AI to create the next generation of procurement intelligence.
“Beroe and Forestreet have both delivered on their missions to disrupt market intelligence, and we see tremendous potential in combining forces to deliver smarter, more integrated procurement solutions,” said Vel Dhinagaravel, Founder and CEO of Beroe. “Over the past eight years the Forestreet team has built something truly unique. They’ve been ahead of the curve in AI development, and we’re excited to bring this wealth of talent and market knowhow into Beroe.”
“Through our partnership with Beroe we are building the smartest and most integrated supplier intelligence ecosystem in the world,” said Alex Miller, CEO and Founder of Forestreet. “Our customers want speed, accuracy, and autonomy. Bringing our AI expertise and talented teams of experts much closer together is how we will deliver it.”
“We are delighted to be joining Beroe, to enable us both to scale our AI innovations and to deliver even greater impact for our clients,” said David Doyle, Chairman and Founder of Forestreet. “It’s a very exciting new chapter for our team.”
As a result of the acquisition, Beroe will further invest in advancing its Supplier Discovery module into a category-defining solution. The combined strengths of Forestreet’s proprietary AI models, Beroe’s industry-leading data, and deep category expertise create a competitive edge unmatched by others in the space.
Read the full article: https://www.beroeinc.com/resource-centre/news/beroe-acquires-forestreet-accelerate-ai-first-strategy-and-redefine-supplier