MUNICH & BOSTON--(BUSINESS WIRE)--riskmethods, the leading provider of solutions to identify, assess, and mitigate global supply chain risk, has successfully completed its Series-B financing round with an investment of 13.5 million euros. The round was led by Digital+ Partners, with previous Series A investors, EQT Ventures, Senovo and Bayern Capital co-funding the round and bringing riskmethods’ total investment to date to more than 20 million euros. The funding will help the company with further international expansion, and continue to lead the supply chain risk management solution market.
riskmethods’ cloud-based technologies enable global organizations to identify and evaluate challenges within the supply chain in near real-time, and to initiate appropriate countermeasures if necessary. Using AI, machine-learning algorithms and Big Data, riskmethods helps its customers avoid revenue loss, loss of production, and reputational damage linked to supply chain issues at a time when progressive globalization, relocation to new markets, national and international regulations, and political unrest are increasing the risks along the supply chain.
"With this new injection of capital, riskmethods is taking a major step towards achieving our goal of global market leadership in the segment of supply chain risk management," said Rolf Zimmer, CEO and co-founder of riskmethods.
"Successful supply chain risk management provides a real competitive advantage and contributes decisively to a company’s success. After setting up our subsidiary in Boston last year, we are now concentrating on strengthening international marketing and global distribution."
The company will use the funding to expand its partner network and customer success functions, as well as investing in further product and solutions development and expanding its workforce. riskmethods expects to double the number of people it employs in 2017.
Investors convinced by enormous growth potential
The new lead investor, Digital+ Partners is an experienced growth equity investor, specializing in investments in fast-growing technology companies within the IndustrialTech and FinTech sectors. "We look forward to supporting riskmethods in this phase of international growth," said Dirk Schmücking, Partner at Digital+ Partners. "The company is well on its way to become the global market leader for SCRM solutions. We were particularly impressed by the company’s over 90 high-profile international customers from a broad range of industries, its market-leading technology, the steep growth trajectory in new and existing business as well as the significant potential for network effects in the business model. The scalability of riskmethods’ SCRM cloud solution and strong commercial traction in Europe and North America, together with this new financing, provides a solid base for continued exponential growth.”
According to Marnix van der Ploeg, Global Rollout Partner at EQT Ventures and Board Member for riskmethods, "We have been continually impressed with the riskmethods team and the progress they’ve made in building a solid customer base and expanding a partner network. It’s great to be working with the team to help them achieve even further expansion and growth.”
riskmethods provides companies with a comprehensive supply chain risk management solution for identification of risks in the supply chain, assessment of the impact and implementation of appropriate action plans. Potential risks are detected early, which means that delivery capability is not compromised, compliance is maintained, and the corporate image is not jeopardized. The SaaS solution, which was developed in Germany, combines state-of-the-art technology and innovative provision of risk intelligence into a leading standard SCRM.
About Digital+ Partners
Digital+ Partners is an experienced growth equity investor focusing on the IndustrialTech and FinTech sectors in Germany and internationally. Digital+ Partners plays an active role in the digital transformation of industrial and financial technology ecosystems. Digital+ Partners creates value by providing deep operational, strategic and corporate finance advice to the management of our portfolio companies to best execute their growth plans.
About EQT Ventures
EQT Ventures is a new European VC fund with commitments of just over €566 million and offices in Stockholm, Amsterdam, London and Luxembourg. Fueled by some of Europe’s most experienced company builders, EQT Ventures help the next generation of entrepreneurs with capital and hands on support. EQT Ventures is part of EQT, a leading alternative investments firm with approximately €35 billion in raised capital across 22 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than €17 billion and approximately 100,000 employees. www.eqtventures.com
Senovo is an independent venture capital company based in Munich. The investment focus is on B2B business models in the DACH region. It concentrates on the early growth financing of B2B SaaS companies that are already generating revenue. As a strong partner with an extensive network, Senovo supports its investments in the successful marketing of new products and services in innovative markets.
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was initiated by the Bavarian State Government in 1995 as a wholly-owned subsidiary of the LfA Förderbank Bayern. Bayern Kapital is a venture capital company of Freistaat Bayern and provides equity capital to the founders of innovative high-tech companies and young, innovative technology companies in Bavaria. Bayern Kapital manages eleven investment funds with an investment volume of around 340 million euros. Bayern Kapital has invested over 246 million euros equity in around more than 250 innovative technology-oriented companies.