Irvine, CA, October 24, 2024 – Raiven, a leading digital supply chain network for the building trades, announced the appointment of Manoj Puthenveetil as Chief Executive Officer. With over 20 years of experience in Fortune 500 companies and as one of Raiven's founders, Manoj is ideally suited to lead the company’s next growth phase.
The appointment of Manoj marks a significant step in Raiven’s succession planning. Brett Knox will step down as CEO and resume his role as COO, focusing on advancing Raiven’s product platform as the growth of artificial intelligence (AI) is a pivotal enabler of this industry’s transformation.
“With this transition, I’m excited to focus on leading product innovation, combining AI-based technology with my deep experience in the building trades to create solutions that truly transform the industry,” commented Knox.
The building trades industry stands at a critical juncture with tremendous pressure from a skilled labor shortage. The industry is also in the midst of a consolidation phase driven by private equity (PE) firms. Digital transformation is essential for PE firms to drive efficiency and profits and for individual contractors to survive and grow in a challenging economy.
Historically slow to embrace technology, contractors now have an unprecedented opportunity to leverage digital strategies. As the world transitions from fossil fuels to electricity to power vehicles, equipment, and appliances, those who adopt these changes will position themselves as leaders in the electrification era.
"The building trades industry is ready for change," says Manoj Puthenveetil. "We're proving that contractors can achieve the same level of supply chain efficiency that has revolutionized manufacturing, but with solutions tailored specifically to their unique challenges."
Raiven focuses on digitizing the process of sourcing, researching, and acquiring equipment, materials, and services for contractors. By leveraging Raiven’s AI-enabled platform, contractors can reduce expenses while discovering untapped revenue streams and profit opportunities, strengthening their competitive position in an increasingly challenging market.
Through strategic partnerships and successful contractor and vendor onboarding initiatives, Raiven has laid the groundwork for industry-wide transformation.
"The skilled labor shortage in the building trades demands new approaches to boost profitability. Advances in technology, especially AI, offer Raiven a unique opportunity to digitize the supply chain through a more strategic procurement lens. Manoj possesses the truly unique combination of business acumen, software smarts and domain expertise, and is absolutely the right person to lead this next level of efficiency gain in the space," said Raiven Chairman Tracy Price.
Raiven is the leading digital supply chain network dedicated to transforming the building trades. Our mission is to empower contractors to optimize their supply chains, lowering their costs while unlocking new revenue streams and enhancing profitability. We connect contractors, suppliers, vendors and manufacturers via a single AI-enabled platform that streamlines buying processes and improves operational efficiency. As we look to the future, we aim to redefine how contractors operate and thrive in a rapidly evolving market. To learn more about our groundbreaking solutions, visit www.raiven.com.