Inspectorio announced a growth investment from the Apax Digital Funds on July 16 to fund its next stage of growth. The Minneapolis supply-chain software company did not disclose the amount;

Inspectorio replaced the paper inspection report with a shared system and a layer of AI. It connects the entire stack (brands, retailers, suppliers, factories, and inspection firms) on one platform.  Inspectorio runs an AI model called Paramo, trained on a decade of inspection data, to flag defects before goods ship. Tariffs and new import rules turned compliance into a board-level issue, chief executive Chirag Patel said, and the era of managing it “through spreadsheets and site visits is ending” (Apax).

The founders ran a sourcing agency before they wrote any software, and one failure kept costing them: inspection reports that arrived too late to matter. Carlos Moncayo, his brothers Fernando and Luis, and co-founder David Klein were working across Ecuador and China in 2016 when they set out to fix it. An inspector would walk a factory with a clipboard, file a report, and the brand would read it days later, after the goods had already moved.

Target gave the company its first customer and one of its first checks. Inspectorio came up through the first cohort of the Target + Techstars Retail Accelerator in 2016, and by the end of the summer, Target was piloting the software.

Bigger rounds followed, and the early money stayed local. Ecolab, Target, and Matchstick, the firm led by Ryan Broshar, all backed the company, and Broshar took a board seat. Later in 2022, the company raised a $50 million Series B from Insight Partners.

The founders no longer run the company day-to-day. Inspectorio named Patel chief executive in March 2024 and moved Carlos Moncayo to executive chairman. Patel had joined the year before, after a long career in supply-chain software.

Inspectorio’s biggest asset is the data it has built up over a decade. The platform pulls inspection and audit data from factories across its network, and every check feeds a shared record a new rival cannot easily rebuild. Apax partner Dave Evans called it an asset “difficult to replicate and increasingly valuable to customers” (BusinessWire). Inspectorio, whose customers include Crocs, Carter’s, and DICK’S Sporting Goods, plans to spend the money on hiring, sales, and more of Paramo, its AI platform (Pulse 2.0).