BOSTON & MUNICH--(BUSINESS WIRE)--riskmethods, a leader in supply chain risk management, experienced its largest period of growth on record during First Quarter 2020 as organizations everywhere recognized the critical need to identify, assess and mitigate supply chain risk. Since the start of 2020, riskmethods increased its user base by nearly 30%. The success and untapped market opportunity led existing investors, including Digital+ Partners and Bayern Kapital, to provide further growth capital and support the company’s strategic initiatives.
“Supply chain risk management has risen to the top of the executive agenda. We’re experiencing incredible demand from companies with global supply chains that are looking to gain immediate insight into their supply base, identify vulnerabilities and take corrective action,” said Patrik Heider, CEO of riskmethods. “We’re making significant incremental investments to support our customers and enable them to minimize the impact of COVID-19 and build more resilient supply networks.”
To meet customer needs and rising market demand, riskmethods bolstered its overall team by nearly 33% globally in 2020 with a continued acceleration of its hiring planned for the remainder of the year.
“The pandemic has highlighted the business-critical need for advanced supply chain risk management solutions,” said Dirk Schmuecking, Managing Director and Founding Partner at Digital+ Partners. “We are delighted to support the high-growth strategy of riskmethods’ leadership team. Capitalizing on the company’s strong technology platform, we see substantial opportunity for the team to lead and transform the supply chain risk market on a global scale.”
riskmethods is taking part in several other initiatives to further support enterprises in the fight against COVID-19. In June, riskmethods was selected to join the European AI Alliance’s AI-Robotics vs. COVID-19 Initiative, which aims to provide citizens, stakeholders and policymakers with the necessary information to face the ongoing pandemic crisis. riskmethods also recently joined the Startups Against Coronavirus initiative.
In addition, the company has received multiple recognitions and awards recently from leading market influencers and analysts, including:
- Two Gold Stevie® Awards in the Business Technology Solution – Supply Chain Management Solution and Business Technology Solution – Governance, Risk & Compliance Solution categories in the 2020 German Stevie® Awards
- Bronze Stevie® Award in the Company of the Year category in the 2020 American Business Awards®
- Recognition by Spend Matters as a procurement Provider to Know for 2020
For more information on how organizations can develop sustainable strategies that strengthen their business resilience in a time of crisis and recovery, visit our website at riskmethods.net/lp/recovery/.
riskmethods empowers businesses to identify, assess and mitigate supply chain risk. By using artificial intelligence, we help customers automate and accelerate threat detection, enabling them to gain competitive advantage with a well-managed approach to meeting customer demands, protecting reputation and reducing total cost of risk. To learn more about why riskmethods is the intelligent way to manage risk, visit https://www.riskmethods.net/ or connect with us on LinkedIn.