Highlights:

  • A cloud-based platform provided by Everstream aids businesses in predicting, evaluating, and reducing the risk of supply chain disruption.
  • It accomplishes this using a combination of risk-tracking artificial intelligence and data analytics technologies.

Everstream Analytics, also known as Resilience360 Inc., has concluded a $50 million funding round.

The Series B round was co-led by StepStone Group and the 1GT private equity platform of Morgan Stanley Investment Management, with participation from existing investor Columbia Capital.

A cloud-based platform provided by Everstream aids businesses in anticipating, evaluating, and reducing the risk of supply chain disruption. This is accomplished using a combination of artificial intelligence and data analytics technologies that aid in risk tracking. In contrast, performance indicators guarantee business continuity and build risk profiles. With the aid of its platform, businesses can visualize, monitor, and secure their daily operations while keeping an eye on and reacting to potentially disruptive events.

Additionally, the business aids businesses in enhancing their performance in terms of governance, social responsibility, and environmental factors, as well as in demonstrating compliance with several supply chain laws requiring diligence, like the Uyghur Forced Labor Prevention Act. Thanks to its extensive, proprietary datasets and data science know-how, it also asserts to offer deeper predictive capabilities in areas like climate change.

Everstream believes it has had considerable growth over a previous couple of years, with year-over-year bookings doubling for two consecutive years and a record quarter at the end of 2022, but it would not provide figures. Anheuser-Busch InBev S.A., Whirlpool Corp., Danone S.A., Abbott Laboratories LLC, and Boston Scientific Corp. utilize its platform to control supply chain risk. In addition, it has a growing network of partners, including SAP SE, Accenture Plc., and Oracle Corporation.

Julie Gerdeman, the company’s Chief Executive, claimed that 2023 was also a watershed year for the business. She said, “This funding comes when we are doubling down on our product innovation and executing rapidly and decisively to advance supply chain sustainability, which is more critical now than ever.”

The 1GT Platform is a Morgan Stanley Investment Management fund that focuses on investing in private businesses. By 2050, it hopes to have collectively prevented or eliminated one gigaton of carbon emissions from the atmosphere. Everstream is a perfect fit for its portfolio, according to Vikram Raju, head of climate investing and the 1GT Platform at MSIM.

Vikram Raju said, “Everstream is helping companies worldwide make measurable, meaningful progress in emissions reduction. Our platform is exclusively for companies that provide products or services to address time-critical carbon impact issues while meeting fiduciary obligations to their investors. Everstream supports this goal by helping sustainable supply chains remain profitable while reducing emissions, and we’re excited to see how the company grows to further achieve this mission.”