SAN MARCOS, Calif.--(BUSINESS WIRE)--Everstream Analytics, the global supply chain insights and risk analytics company, today announced the close of a $24M Series A round. With new investor Morgan Stanley Investment Management joining the round and increased commitment from existing investors Columbia Capital, StepStone Group, and DHL, the financing comes on the heels of a significant acceleration in company growth.
To date in 2022, Everstream increased its customer base by 550% and welcomed new banner clients, including AB InBev, KIOXIA, Shaw Industries, Whirlpool, and more. It launched the only automated multi-tier visibility solution within an end-to-end supply chain risk management platform and expanded the executive leadership team with strategic hires. The capital raised will propel innovation and further global expansion while the company continues to outpace the competition.
“The past two years have shone a light on the criticality of supply chain resilience. Everstream gives companies visibility and insights to uncover and predict supply chain disruption from weather events and other disasters to human, sustainability, and environmental risks across their entire supply chain,” said Julie Gerdeman, CEO of Everstream. “With a record number of new customers - and existing clients expanding their use of the platform – this is the ideal time to harness strategic funding to fuel go-to-market expansion across the globe and accelerate product innovation.”
The accelerated adoption of Everstream speaks to the strong demand for the company’s application of artificial intelligence in combination with deep subject matter experts and data science. Everstream’s global customer base includes some of the world’s largest brands, including Google, DuPont, Bayer, Unilever, and Schneider Electric, who are committed to building the smartest and most sustainable supply chains.
“Today, more than ever before, a baseline understanding of supply chain risk is critical for any company working with partners and suppliers, but it is not enough. For a company to succeed, it must be able to anticipate disruption and base complex business decisions on reliable, intelligent data,” said Michael Carroll, Morgan Stanley Investment Management. “We are pleased to be a part of Everstream’s growth strategy as it continues to strengthen its position as a source of supply chain predictive risk analytics.”
“Shaw was looking for a partner in our multi-year journey towards end-to-end predictive and prescriptive supply chain insights. We chose Everstream in large part due to their vision for this and our belief that they have the capabilities and investor support to achieve it,” said Kevin O’Meara, VP Integrated Supply Chain at Shaw Industries. “The insights provided by Everstream allow Shaw to deepen our commitment to deliver for and delight our customers in a world full of risk.”
Everstream recently expanded its predictive analytics platform to provide visibility deep within the supply chain, allowing companies to map, monitor, assess, predict risk and strengthen even the most complex global supply chains. Dubbed Everstream Discover, the solution is powered by proprietary data, AI, and graph technologies. Taking the helm of further product innovation is Nidhi Chopra, Vice President of Product. Chopra brings an extensive background in product strategy and vision and will continue Everstream’s path of accelerated innovation.
As part of its increased focus on partners and alliances, Everstream has appointed Andy McGuire as Head of Global Alliances. With existing partners, including SAP, Accenture, Oracle, and more, McGuire will lead the company’s efforts to penetrate new market segments and accelerate revenue growth through new strategic partnerships.
This latest round of funding was facilitated in partnership with DLA Piper.
For more information, visit www.everstream.ai.
Everstream Analytics sets the global supply chain standard. Through the application of artificial intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics businesses need for a smarter, more autonomous and sustainable supply chain. Everstream’s proven solution integrates with procurement, logistics and business continuity platforms generating the complete information, sharper analysis, and accurate predictions required to turn the supply chain into a business asset. To learn more, visit www.everstream.ai.
About Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.