CHICAGO, March 19, 2024—CADDi, a leading manufacturing solutions provider, is honored to announce its inclusion in Fast Company's annual list of the Most Innovative Companies for 2024. This recognition from a leading media company covering the future of technology and work underscores CADDi's commitment to driving innovation, efficiency, and cost reduction within procurement departments and the manufacturing sector as a whole.
The full list of innovators is an annual ranking that recognizes 606 organizations across 58 sectors and regions. CADDi ranks 9 in the Asia-Pacific category and is recognized globally among big names like Nvidia, YouTube, and more.
"We are thrilled to have Fast Company validate the work our organization is doing to help empower manufacturers to unleash their potential," said Yushiro Kato, co-founder and CEO of CADDi. "This accolade is a testament to our dedication to building a manufacturing platform designed for teams across the supply chain—from sales to engineering to procurement departments—to enhance manufacturing workflows."
Fast Company's list celebrates organizations that are spearheading groundbreaking advancements in their respective industries, setting the standard for future innovation. CADDi's inclusion highlights its position as a trailblazer in driving efficiency in procurement and transforming the manufacturing landscape with its flagship CADDi Drawer, an easy-to-use secure SaaS platform that uses AI to help procurement teams centralize and search for drawings in a central hub.
“Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year,” said Fast Company editor-in-chief Brendan Vaughan. “We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future.”
Users of CADDi Drawer leverage search software that uses AI to optimize procurement and supply-chain functions. The "similar drawing search" function automatically extracts and digitizes structured data from drawings, including shapes, title block information, and dimensions. This helps procurement teams locate and compare drawings in a matter of seconds, saving time, money, and resources.
In July 2023, CADDi successfully raised $89 million in a Series C funding round, bringing its total capital raised to $164 million. The company is expanding in North America and opened its U.S. headquarters in Chicago to bring its solution to manufacturers in the region and nationwide.
"We want to make the lives of the people who work daily in manufacturing easier,” Kato added. “Organizations have never had the opportunity to access historical drawings and supply-chain data in a centralized system—until now. By harnessing the power of AI and our patented algorithms, we are enabling them to not only access drawings but make decisions based on having essential information literally at their fingertips.”
CADDi remains committed to addressing broader industry pain points. The platform reduces manufacturing costs—leveraging past insights to eliminate pricing inconsistencies common in the non-standardized and opaque procurement process to optimize supplier selection—and helps bridge the knowledge gap between experienced workers retiring and newer ones entering the workforce in an era when the manufacturing industry faces persistent worker shortages.
CADDi's recognition by Fast Company reflects its profound impact on the manufacturing sector and industry at large. As CADDi continues to push the boundaries of innovation, the company remains steadfast in its commitment to delivering exceptional value to its clients and partners.
For more information about Fast Company's Most Innovative Companies for 2024, visit https://www.fastcompany.com/most-innovative-companies/list.
ABOUT CADDi INC.
CADDi is a global manufacturing company on a mission to "unleash the potential of
manufacturing." The company strives to transform the manufacturing industry through its
primary offering, "CADDi Drawer," an AI-enabled drawing management system, helping further unlock the potential of manufacturing by significantly improving the efficiency of procurement teams.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
